The Bank of Israel's Monetary Committee decided on Monday to keep the rate the bank charges commercial banks at a quarter of a percent.
Announcing the decision, the bank said, "The inflation environment remains stable above the lower bound of the target range. The CPI for April was lower than pre-publication assessments, but CPI readings for the previous three months surprised to the upside, and year-on-year inflation is at a level similar to that of recent months." It said the shekel's 6 percent appreciation "is the main factor that is delaying the continued increase of the inflation rate toward the midpoint of the target."