The Bank of Israel announced on Monday that its monetary committee was leaving the interest rate it charges commercial banks at a quarter of a percent.
A statement accompanying the announcement said that "in view of the inflation environment in Israel, the monetary policies of major central banks, the slowing in the global economy, and the continued appreciation of the shekel, it will be necessary to leave the interest rate at its current level for a prolonged period, or to reduce it in order to support a process at the end of which inflation will stabilize around the midpoint of the target range, and so that the economy will continue to grow strongly. Moreover, if necessary, the Committee will take additional steps to make monetary policy even more accommodative."