Base interest rate stays unchanged in Israel

Israel's central bank announced on Monday that it will keep the base interest rate for the next six and a half weeks at the rate of 0.25 percent.

The bank assesses that due to Israel's low inflation, the monetary policies of major central banks, the slowing of the global economy, and the continued appreciation of the new shekel, it will be necessary to leave the interest rate at its current level for a long period or even reduce it.

This policy aims to support a process at the end of which inflation will stabilize around the midpoint of the governmental annual target range (1 to 3 percent), and so that the economy will continue to grow strongly.