Israel and Turkey cut rates, hinting at further easing
Both central banks leave door open for further action
Both the Israeli and Turkish central banks cut interest rates today, while signalling they are prepared to implement further easing measures.
The Bank of Israel cut its key rate by 15 basis points to 0.1%, citing the "increased rate of appreciation" of the shekel and the threat it poses to already low levels of inflation.
While the Israeli decision surprised markets, sending the shekel tumbling by 1.3% against the US dollar when the decision was announced, the Turkish move did not.
The Central
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