Exports decline ‘worrying’ as Bank of Israel holds
Inflation dips to –0.9% as growth figures disappoint
The Bank of Israel highlighted a "worrying contraction in exports" as it held its policy rate at 0.1% again today (May 23).
The "intensifying decline" served to reinforce the central bank's guidance that monetary policy will "remain accommodative for a considerable time", it said.
Annual consumer price inflation dropped to –0.9% in April, while early estimates suggest growth slowed in the first quarter, to an annualised rate of 0.8%. The unemployment rate ticked down to 4.4% in April.
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