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Article: Central bank leaves interest rates alone
- Article from:
- Jerusalem Post
- Article date:
- December 26, 1994
- Author:
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Jose Rosenfeld
Jerusalem Post
12-26-1994
INTEREST rates will remain unchanged next month at 17 percent, the Bank of Israel announced yesterday.
Despite last month's 1.3% jump in the Consumer Price Index, the central bank decided to leave the rates alone following strong pressure by the Treasury and the business sector to cut them.
Asked whether he would reduce interest rates following a moderate CPI increase, Bank of Israel Governor Jacob Frenkel said "we don't work on the basis of a single index. The goal is for us to be convinced that inflation has come down to the target levels set by the government and the Bank of Israel, of between 8% and 11%."
In addition, Frenkel wants to see ...