The Monetary Committee of the Bank of Israel has decided to keep the interest rate the bank charges commercial banks at a quarter of a percent until early January.
The bank said, "The Monetary Committee's assessment is 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."