Bank of Israel plans to cut key interest rate

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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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Mon, 28 Nov 2011 14:46:18 GMT

Italy's cost of borrowing increases

Italy's cost of borrowing increased after the country sold 567 million euros of inflation-indexed government bonds that mature in 2023. The gross yield of bonds is 7.30% as compared to 2.90% in previous auction in March 2010. The rapid increase in the bond yields raise fears that the third-largest economy in Europe will seek another bailout. More significant test will be on Tuesday when Italy

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