Bank of Israel plans to cut key interest rate

Note: This section contains information in English only.
Source: Marketwatch
© Scanpix/RS

The Bank of Israel announced its plan to decrease its benchmark interest rate by 0.25 points to 2.75%. The cut indicates Israel's concerns over the decline in the country's business activity as the amount of exports decreased due to a drop in demand of developed economies such as US and Europe that suffer from financial difficulties. 

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