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Article: Central bank interest rates remain unchanged

Article from:
Jerusalem Post
Article date:
April 25, 1997
Author:
Copyright

DAVID HARRIS
Jerusalem Post
04-25-1997
There will be no change in the Bank of Israel's key lending rate next month, Governor Jacob Frenkel announced yesterday. This leaves the rate at 13.9 percent, with the aggregate cut since August holding at 3.1%. May will be the second consecutive month with no change in the rate.

Since August, the central bank has not reduced interest rates by more than 1% in any month.

The decision follows a week of negotiations before Pessah, among Prime Minister Binyamin Netanyahu, Finance Minister Dan Meridor and Frenkel, during which the three were unable to reach a conclusion on how to put the economy back on track and in particular how to rein in the budget ...

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