Treasury sees Dec. CPI rising 0.4-0.5%
Bank of Israel is expected to keep February interest rates steady at 4.25%.
Treasury officials predict that the consumer price index would rise by 0.4% to 0.5% in December. The officials also revised their estimate for the development of consumer prices in 2007, saying that the index apparently rose by 3.2% to 3.3%. If so, then inflation ran higher than the targeted range of 1% to 3%. the Bank of Israel is expected to keep February interest rates steady at 4.25%.