Fischer’s final acts: interest rate unchanged, growth outlook cut
The Bank of Israel’s monetary committee voted to leave the base lending rate unchanged at 1.25% for July, citing forecasts showing inflation coming in at about the midpoint of the government’s target of 1% to 3% annually, as well as signs of slowing economic growth.
Bank of Israel Governor Stanley Fischer on Monday left it to his successor to decide which way to go on interest rates in the coming months. But he also left the incoming governor with little doubt about the economy‘s direction.
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