News Brief

(IsraelNN.com) President of the Industrialists Union Shraga Brosh welcomed Bank of Israel (BOI) Governor Dr. Stanley Fischer's decision to lower the prime interest rate in Israel by half a percent. The BOI issued a statement describing the move as a countermeasure to the slowdown in the Israeli market and as a way to increase the liquidity of financial institutions.

Brosh told Army Radio showhost Yaron Vilenski, "I definitely support Fischer, and what he did today. He definitely took the right action, at the right time. There's no doubt that there is psychological significance to what happened, and the bottom line is this is part of the stability that we need to broadcast to the Israeli public now."