BREAKING NEWS

Bank of Israel raises interest rate by 0.25%

By GLOBES

MAY 23, 2011 18:58

The Bank of Israel on Monday raised the interest rate for June by 25 basis points to 3.25%.

Over the past few days, analysts have been divided on whether the Bank of Israel would raise the rate or leave it unchanged.

In citing the main considerations behind the decision, the Bank of Israel mentioned that it was part of its strategy of returning interest rates "to a more normal range intended to position inflation firmly within the target range, and to support the further recovery of economic activity, while maintaining financial stability."

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