Bank of Israel Press Release

PRESS RELEASE - Developments in the Foreign-Currency Market, 12 February.

Against the backdrop of the developments in the foreign-currency market, the Bank of Israel reiterates that neither the central bank nor the government has an exchange-rate target, and even if they had, it would be impossible to uphold it in opposition to market forces. Notwithstanding, local-currency depreciation can bolster economic growth only if it is not accompanied by accelerated inflation. As it has done in the

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