Bank of Israel holds rate in divided policy meeting
Central bank willing to cut rates in future to boost below-target inflation
The Bank of Israel held rates unchanged today (October 7) despite the opposition of some members of the policy committee, who called for a rate cut.
As a result, the interest rate remains at 0.25%. However, the central bank modified its policy statement to add it is now willing to reduce interest rates, or even take additional steps, in order to help inflation reach the midpoint of its policy target.
“I will say at the outset that the decision was not easy, and was not unanimous,” said
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