The Bank of Israel announced, Monday that the rate it charges commercial banks will stay at a tenth of a percent for September. The bank's Monetary Committee was of the opinion that the risks to achieving the inflation target of 1-3 percent remain high.
A statement accompanying the announcement said, "The Consumer Price Index for July increased more than expected, following three successive positive CPI rates of change. Short-term inflation expectations remained low this month, and are still below the lower bound of the inflation target range. Medium and long-term expectations remain anchored within the target range." It said it was too early to say if recent growth rates would be sustained. With the shekel strengthening against the dollar, "exports increased at an adequate rate, although it still lags world trade growth."