{"id":42270,"date":"2013-09-23T11:13:34","date_gmt":"2013-09-23T15:13:34","guid":{"rendered":"http:\/\/countingpips.com\/forex-news\/?p=42270"},"modified":"2013-09-23T11:13:34","modified_gmt":"2013-09-23T15:13:34","slug":"israel-cuts-rate-on-low-inflation-trims-growth-forecast","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex-news\/2013\/09\/23\/israel-cuts-rate-on-low-inflation-trims-growth-forecast\/","title":{"rendered":"Israel cuts rate on low inflation, trims growth forecast"},"content":{"rendered":"<p>By <a href=\"http:\/\/www.centralbanknews.info\/\"><u>www.CentralBankNews.info<\/u><\/a> &nbsp; &nbsp; Israel&#8217;s central bank cut its policy rate by 25 basis points to 1.0 percent due to inflation below the midpoint of the bank&#8217;s target range, slower-than-expected domestic growth, a possible slowdown in advanced economies and continued appreciation of the shekel currency.<br \/>&nbsp; &nbsp; The Bank of Israel (BOI), which has now cut rates by 75 basis points this year &#8211; including two cuts in May to stem the rise in the shekel &#8211; cut its forecast for growth this year to 2.6 percent from a previous forecast of 2.8 percent, excluding the contribution of natural gas production from the new Tamar site.<br \/>&nbsp; &nbsp; Including gas production, Israel&#8217;s Gross Domestic Product is forecast to expand by 3.6 percent this year, down from 3.8 percent in the previous forecast.<br \/>&nbsp; &nbsp; Next year, Israel&#8217;s economy is expected to slow down from this year due to a smaller contribution of gas output to economic growth, a decline in the growth of public spending and lower growth in private consumption due to higher taxes, the BOI said.<br \/>&nbsp; &nbsp; GDP in 2014 is forecast to grow by 2.7 percent, up from a previous forecast of 2.5 percent, excluding gas output. Including gas output, Israel&#8217;s economy is forecast to growth by 3.4 percent, up from a previous forecast of 3.2 percent.<br \/>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By www.CentralBankNews.info &nbsp; &nbsp; Israel&#8217;s central bank cut its policy rate by 25 basis points to 1.0 percent due to inflation below the midpoint of the bank&#8217;s target range, slower-than-expected domestic growth, a possible slowdown in advanced economies and continued appreciation of the shekel currency.&nbsp; &nbsp; The Bank of Israel (BOI), which has now cut &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/forex-news\/2013\/09\/23\/israel-cuts-rate-on-low-inflation-trims-growth-forecast\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Israel cuts rate on low inflation, trims growth forecast&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-42270","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/42270","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/comments?post=42270"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/posts\/42270\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/media?parent=42270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/categories?post=42270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex-news\/wp-json\/wp\/v2\/tags?post=42270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}