Sunday, April 24, 2011

Bank of Israel Holds Benchmark Interest Rate at 3.00%

The Bank of Israel held its benchmark lending rate unchanged at 3.00% on the back of lower inflation expectations.  Israel recorded inflation of 4.3% in March; above the inflation target of 1-3%.  On the housing market the Bank noted "House prices continued to increase this month, and in the last twelve month have risen by 16.1 percent." and said that it was "considering the introduction in the near future of additional measures in the housing credit field".  The Israeli economy is expected to grow at least 4% this year, following growth of 4.7% in 2010.


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