{"id":28587,"date":"2012-03-27T03:38:00","date_gmt":"2012-03-27T07:38:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/03\/27\/bank-of-israel-keeps-interest-rate-on-hold-at-2-50\/"},"modified":"2012-03-27T03:38:00","modified_gmt":"2012-03-27T07:38:00","slug":"bank-of-israel-keeps-interest-rate-on-hold-at-2-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/03\/27\/bank-of-israel-keeps-interest-rate-on-hold-at-2-50\/","title":{"rendered":"Bank of Israel Keeps Interest Rate on Hold at 2.50%"},"content":{"rendered":"<div align=\"right\"><script type=\"text\/javascript\">\ntweetmeme_style = 'compact';\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\"><\/script><\/div>\n<p><span><span><span>The&nbsp;<a href=\"http:\/\/www.bankisrael.gov.il\/\" target=\"_blank\">Bank of Israel<\/a>&nbsp;kept its benchmark interest on hold at 2.50%.&nbsp; The Bank said &#8220;<\/span><span><span>The decision to leave the interest rate for April 2012 unchanged at 2.5 percent is consistent with an interest rate policy that is intended to entrench the inflation rate within the price stability target of 1\u20133 percent a year over the next twelve months, and to support growth while maintaining financial stability. The path of the interest rate in the future depends on developments in the inflation environment, growth in Israel, the global economy, monetary policies of major central banks, and developments in the exchange rate of the shekel.&#8221;<\/span><\/span><\/span><\/span><br \/><span><\/span><br \/><a name='more'><\/a><span>Previously the bank cut&nbsp;its monetary&nbsp;<span><\/span>policy&nbsp;<\/span><span>interest rate<span><\/span><\/span><span>&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2012\/01\/bank-of-israel-cuts-interest-rate-25bps.html\">25 basis points<\/a>&nbsp;in January,&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/11\/bank-of-israel-cuts-interest-rate-25bps.html\">November<\/a>&nbsp;and&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/09\/bank-of-israel-cuts-rate-25bps-to-300.html\">September<\/a>, leaving it&nbsp;unchanged at its June,&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/07\/israeli-central-bank-holds-interest.html\">July<\/a><span>, and&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/08\/israel-central-bank-holds-benchmark.html\">August<\/a><span>&nbsp;meetings, and increasing the&nbsp;interest rate&nbsp;by&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/05\/bank-of-israel-lifts-interest-rate.html\">25 basis points<\/a><span>&nbsp;to 3.25% at its May meeting this year. &nbsp;Israel recorded annual&nbsp;inflation&nbsp;of 2.2% in December, 2.6% in November, 2.7% in October, 2.9% in September, 3.4% in August and July, 4.2% in June, 4.1% in May, and 4.0% in April and just inside the Bank&#8217;s inflation target range of 1-3%.<\/span><a href=\"http:\/\/www.centralbanknews.info\/\" name=\"more\"><\/a><br \/><span><br \/><span>The Bank expects the Israeli&nbsp;<a href=\"http:\/\/www.fundterms.com\/2011\/01\/economic-cycle.html\">economy<\/a>&nbsp;to grow about 3.1 percent this year and 3.5 percent next year. &nbsp;The Israeli Shekel&nbsp;(ILS) has weakened about 6% against the US dollar over the past year, while the USDILS exchange rate last traded around 3.71. &nbsp;The Bank next meets on the 23rd of April 2012.<\/span><br \/> <\/span><\/p>\n<div><span><span><span><a href=\"http:\/\/www.centralbanknews.info\/\" target=\"_blank\">www.CentralBankNews.info<\/a><\/span><\/span><\/span><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-7302984904996126412?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Bank of Israel&nbsp;kept its benchmark interest on hold at 2.50%.&nbsp; The Bank said &#8220;The decision to leave the interest rate for April 2012 unchanged at 2.5 percent is consistent with an interest rate policy that is intended to entrench the inflation rate within the price stability target of 1\u20133 percent a year over the next &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/03\/27\/bank-of-israel-keeps-interest-rate-on-hold-at-2-50\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bank of Israel Keeps Interest Rate on Hold at 2.50%&#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-28587","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28587","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=28587"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28587\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=28587"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=28587"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=28587"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}