Bank of Israel won't move up interest rates cut

By JPOST.COM STAFF
October 8, 2006 09:15

The Bank of Israel announced on Sunday that despite speculation that a planned cut in interest rates would take effect earlier than planned in an attempt to counter the continuing downward trend of the US dollar, it would not change the date planned for the cut in rates. Interest rates will be lowered in two weeks, as planned, Army Radio reported. The representative rate of the dollar will remain at NIS 4.238 until trading opens on Monday.


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