Bank of Israel delays rate hike as Covid-19 cases rise
MPC says it will continue with accommodative policy despite GDP growth and on-target inflation
The Bank of Israel’s monetary policy committee kept rates unchanged at the record low level of 0.1% after its meeting today (August 23).
Israel’s government has tightened restrictions on the economy following the spread of the more infectious Delta variant of Covid-19, the BoI policy statement said.
As a result, the central bank said, it will delay tightening financing conditions, despite the rapid economic recovery and higher on-target inflation. Instead, it will continue to conduct “a very
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