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Article: Central bank cuts rates by 0.3%
- Article from:
- Jerusalem Post
- Article date:
- March 27, 2001
- Author:
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Jerusalem Post Staff
Jerusalem Post
03-27-2001
Headline: Central bank cuts rates by 0.3%
Byline: Jerusalem Post Staff
Edition; Daily
Section: Economics
Page: 12
Tuesday, March 27, 2001 -- The Bank of Israel reduced its key lending rate for April by 0.3 percent to 7.2% yesterday, in line with the expectations of analysts who predicted a rate cut of 0.2%- 0.3%.
Central Bank Governor David Klein said that the decision is in line with achieving the government's official inflation target for the next three years, which calls for an inflation rate of 2.5% to 3.5% this year and 2%-3% in 2002. Economists believe, however, that to meet the inflation target for the year the central bank will have to ...