Fischer: interest rate will drop by 0.25% in June

The interest rate in the Israeli economy for the month of June will be lowered by 0.25% to a rate of 3.5%, Bank of Israel Governor Stanley Fischer decided Monday. Over the past 24 hours, the bank deliberated whether to further lower the interest rate or to stick with the current level. The governor's decision was reached due to price rises that are still below the projected inflation rate.