News Briefs

  1/23/2012, Tevet 28, 5772

BOI Cuts Interest Rate

The Bank of Israel announced Monday that it would reduce the interest rate in February. The rate will be cut a quarter percent, to 2.5%.

In a statement, the bank said that the reduction in the rate was made possible because the economy had remained within the bounds of the 1% - 3% annual inflation rate that the Bank had set as its goal.