Monetary policy: Israel's central bank again cuts key interest rate
The Bank of Israel surprisingly cuts the key interest rate to 3.25 percent. The move is against the trend of other central banks towards tighter monetary policy.
Israel's central bank has cut its key interest rate for the third consecutive time, lowering it to 3.25 percent from 3.50 percent. The move is against the global trend of tighter monetary policy. The bank cited easing price pressure, supported by the strong Shekel currency, as the reason for the cut. Israel's inflation rate was 1.5 percent in July, within the bank's target range of 1-3 percent. The economy grew 15.4 percent in the second quarter, but 3.8 percent when excluding foreign production.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
