Bank of Israel Keeps Interest Rate Unchanged at 0.25%

Photo Credit: Noam Revkin Fenton / Flash 90

The Bank of Israel Monetary Committee announced Monday it will keep the interest rate which the Bank charges commercial banks at 0.25 percent until early January.

“The Monetary Committee’s assessment is that in view of the inflation environment in Israel, the monetary policies of major central banks, the slowing in the global economy, and the continued appreciation of the shekel, it will be necessary to leave the interest rate at its current level for a prolonged period or to reduce it in order to support a process at the end of which inflation will stabilize around the midpoint of the target range, and so that the economy will continue to grow strongly,” the Bank of Israel said.