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News Brief

  3/24/2013, Nisan 13, 5773

Bank of Israel: Interest Rate to Stay at 1.75 Percent


The Bank of Israel announced, Sunday, that the interest it charges commercial banks to borrow money will remain at 1.75 percent through the month of May. The Bank announced had announced that a similar two-month setting of the interest rates will take place in August, ahead of the autumn Jewish holidays, which cause many bank holidays.

In announcing that the interest rate would stay the same, the bank noted "The Consumer Price Index (CPI) for February remained unchanged, in line with forecasts. The rate of increase in the CPI over the past 12 months remained essentially unchanged compared to recent months, at 1.5 percent."