Bank of Israel keeps interest rate unchanged at 3%

By NADAV SHEMER
April 24, 2011 14:44

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

The benchmark interest rate will remain unchanged in May at a level of 3 percent, Bank of Israel Governor Stanley Fischer announced on Sunday, defying expectations from analysts that he would raise rates by at least a quarter-point.

The central bank said that its decision was “consistent with the process of returning the interest rate 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.”

Explaining the main considerations behind its decision, the bank said that the recent appreciation of the shekel and recent increases in the interest rate are expected to moderate the rate of inflation in the coming months. It added that indicators of economic activity published this month support the assessment that the rapid expansion of activity and demand continued in the first quarter.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
October 16, 2018
Kremlin to discuss resumption of flights from Russia to Egypt's Red Sea resorts

By REUTERS