Bank of Israel leaves rates unchanged

The governor of the Bank of Israel, Stanley Fischer, announced on 25 June that the monetary rate for July 2007 will remain unchanged at 3.5%.

The central bank said that the decision to leave rate unchanged was in line with its policy of keeping consumer prices stable. The central bank's inflation target range, mandated by the Israeli government, is 1% to 3%, and the central bank believes it can achieve this by early 2008.

The spread between interest on the shekel and on the US dollar remains at