Bank of Israel leaves interest rate, raises mortgages cost

By JPOST.COM STAFF
May 24, 2010 21:01

Bank of Israel governer Stanley Fischer on Monday decided to leave the interest rate unchanged at 1.5 percent.

The unchanged rate is designed to help industry and prevent any further rise in the value of the shekel.

To prevent a housing bubble, Fischer is obligating banks to raise the cost of high-risk mortgages where the bank is funding more then 60% of the cost.


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