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FinancialNews


  • 27-11-18

    Israel breaks unchanged base interest rate status with boost

    (MENAFN) Following three years of an unchanged base interest rate, the Israeli central bank reached a decision to break this static rate to boost it to 0.25 percent instead of the long-standing 0.1.

    This move is further considered as the first for the base interest rate to be increase since over seven years.

    It comes after the U.S. dollar experienced a stronger level against the Israeli new shekel, while the Consumer Price Index (CPI) recorded a 0.3 percent raise last month.

    The bank's Monetary Committee stated: "after a sustained rise in inflation since the beginning of 2018, it is stabilizing slightly above the lower limit of the government target, and is expected to remain in this area in the coming months."

    MENAFN2711201800450000ID1097751174

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