Bank of Israel expects 0.4% inflation for 2014
GDP expected to grow by 2.9%, bank says in monetary policy report
The Bank of Israel is expecting an inflation rate of 1.6% over the next four quarters, while GDP is expected to grow by 2.9% in 2014, the banks said in its monetary policy report for the first half of the year.
Inflation for 2014 is expected to be only 0.4% – the result of low domestic demand, continued moderation in the growth of rents, appreciation of the shekel and low inflation environment worldwide.
The Bank of Israel expects its benchmark interest rate to remain at 0.75% for the remainder
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