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Article: Central bank calls for rate hike

Article from:
Jerusalem Post
Article date:
October 25, 2001
Author:
Copyright

TAL MUSCAL
Jerusalem Post
10-25-2001
Headline: Central bank calls for rate hike
Byline: TAL MUSCAL
Edition; Daily
Section: Economics
Page: 12

Thursday, October 25, 2001 -- Interest rates should be raised by 0.5 percent by the first half of 2002, the Bank of Israel's Monetary Department recommended yesterday to central bank Governor David Klein.

The recommendations were made during the central bank's monthly monetary forum ahead of next week's interest rate decision, which was open to the press for the first time. Economists expect Klein to cut interests rate by no more than 0.2% on Monday. The central bank's short term rate is currently 6.3%.

In the discussion, central bank officials presented ...

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