Israel holds as exchange rate hampers exports and inflation target

David Vaaknin

The Bank of Israel kept interest rates unchanged at 0.1% on May 25, but said it is willing to provide further support if required by the Covid-19 crisis.

The central bank stressed in April annual inflation was recorded at -0.6%. “Short-term inflation expectations are below the target while medium and long-term expectations are within the target range,” says the policy statement.

The inflation outlook looks especially challenging for the institution. Since the previous interest rate decision on

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