Israel cbank labour unrest may block rate decision

The Bank of Israel cautioned on Feb 21, 2001 that it might not issue its next discount rate announcement on schedule because of continued labour unrest at the bank.

The March 2001 rate is scheduled to be announced on Feb 26. Economists and market players have been expecting Governor David Klein to cut the 7.7% discount rate by 20 to 30 basis points.But the bank says a slowdown by employees protesting the central bank's promotion policy is disrupting the monetary auctions that keep the declared