Bank of Israel narrow forum backs rate hold

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All four members of the Bank of Israel's narrow forum for monetary policy discussion recommended Stanley Fischer, the governor of the Bank of Israel, leave interest rates unchanged at 3.25%, according to minutes published on Monday.

The sharp drop in inflation expectations over the past 12 months and the moderation in global demand in advanced economies and its subsequent effects on growth in Israel, were among the reasons discussed by the narrow forum. Despite evidence of a continued increase

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