Fischer: Basic interest rate to remain at all-time low of 0.5%

By JPOST.COM STAFF
July 27, 2009 19:09

Israel's basic interest rate will remain unchanged in August at the all-time low of 0.5 percent, Bank of Israel Governor Stanley Fischer announced Monday, despite concerns of a continued rise in inflation. In the written decision, Fischer said that the low cost of borrowing for Israel families and business must be maintained in order to help pull the economy out of the financial crisis. He also emphasized that numerous central banks around the world were continuing to preserve low interests rates.


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