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Bank of Israel Raises Interest to 3.75%
Reported: 04:30 AM - Jul/24/07
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(IsraelNN.com) The Bank of Israel announced Monday that it was raising the interest rate to 3.75%. Bank officials explained that the increase was due to efforts to maintain an inflation rate of 1-3% in 2007.
Officials explained that economic growth would cause the economy to approach its productive limit, which could lead to inflation. The recent increase in the prices of oil and basic food products could lead to inflation as well, they said.
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