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Article: Central bank cuts lending rate 0.4%
- Article from:
- Jerusalem Post
- Article date:
- March 24, 1998
- Author:
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DAN GERSTENFELD
Jerusalem Post
03-24-1998
The Bank of Israel yesterday announced that it will cut its key lending rate by 0.4 percentage points to 12.2%, following the recent decline in inflation.
The decision brings interest rates to the lowest level since July 1994 and is the third consecutive cut in the last three months, in which the base rate was lowered by a total of 1.2%.
The central bank said that the decision was made following the recent decline in inflation and expectations for further decreases in the future.
The decision follows the news last week that the February consumer price index had dropped 0.1%, making inflation over the last 12 months only 5.6%.
The Bank of Israel ...