The Bank of Israel decides to keep the interest rate for September unchanged at its current rock bottom of 0.1 percent, it announces.
The bank’s current monetary policy, it says in a statement, “is intended to return the inflation rate to within the price stability target of 1–3 percent a year over the next twelve months, and to support growth while maintaining financial stability.”
The decision follows a Sunday Central Bureau of Statistics report that warned second-quarter 2015 growth was equivalent to an annual rate of 0.3%, lower than that of debt-wracked Greece, leading to fears that the economy may be entering a persistent slowdown.
“Indicators of real economic activity are volatile but point to some decline in the growth environment relative to the 2.5–3.0 percent growth range of the past two years, with a decline in exports against the background of decreased world trade, and continued growth of current consumption,” the Bank of Israel notes in explaining its decision.
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From the Liveblog of
Monday, August 24, 2015
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