Bank of Israel likely to hold rates throughout 2013

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The Bank of Israel is likely to keep its benchmark interest rate at 1.75% throughout 2013, according to a monetary policy report released today.

In the second half of 2012, the central bank lowered the rate by 75 basis points to 1.75%, in an attempt to boost economic activity in light of a global slowdown.

The central bank was able to do so, the report said, because of "the absence of inflationary pressures". Year-on-year inflation was 1.6% in December, towards the lower end of Bank of Israel's

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