Bank of Israel Leaves Interest Rate Unchanged at 0.10%
February 22, 2016
It’s been a year since the last interest rate modification at Israel’s central bank. That 15-basis point cut followed four consecutive calendar years in which the rate was reduced three times by 25 basis points each time. The current 0.10% level thus compares with 3.25% at the end of 2010. Israeli monetary officials released a statement that made familiar points justifying the accommodative stance: continuing low inflation, expected medium-term inflation that’s marginally below target, a comparatively stable trade-weighted shekel, somewhat more moderate growth this quarter, and weak and volatile global financial markets.
Copyright 2016, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Bank of Israel
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