The Bank of Israel's Monetary Committee decided, Tuesday, to switch during the course of 2017 from the current frequency of 12 decisions a year on the interest rate to eight decisions a year.
The bank said eight times per year is in line with the entrenchment of its inflation targeting regime, the low volatility of economic variables and the frequency of leading central banks. Committee members agreed that the lower frequency incorporates reduced flexibility to respond to an unexpected event with an interest rate change at a predetermined date.