Avraham Novogrotzky, Chairman of the Industrialist Union Finance Committee and CEO of Africa-Israel Industries related to the decision of the Bank of Israel to lower the June Interest, “I welcome the decision. This is in line with the prime consideration of the Bank of Israel -- price stabilization and support of growth and employment.
“Current inflation can allow for lower interest. Inflation in the last 12 months was 1.6%, under the price goal range, and expectations for the next 12 months are around the price goal range. Lower interest benefits exports, and motivates Israel trade partners to lower interest rates as well, thus supporting devaluation power and reinforcing Israeli export competition ability.”