Bank of Israel cuts April lending rate to 7.2%

ISRAEL - The Bank of Israel said on Mar 26, 2001 it was lowering its key lending rate to 7.2 percent in April 2001 from 7.5 percent in March, fractionally above market expectations of a 0.2 percentage point cut.

The reduction was the ninth consecutive monthly cut. Since late 1999, the central bank has whittled rates in 15 monthly increments from 11.5 percent as Israeli inflation declined to zero.

The central bank said in a statement that the reduction was consistent with meeting long-term price