The Israeli economy seems to be pulling out of recession ,after two quarters of economic contraction.
In addition, Central Bureau of Statistics' figures also show that exports rose by an annualized 5.3% last quarter
The Bank of Israel is likely not to raise interest rate despite the CPI increase, since an interest rate hike would further strengthen the shekel, in turn hurting Israeli exporters further.
The official Bank of Israel interest rate at the moment stand at an all time low 05%
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