Dubi Amitai, chairman of the Business Sector Presidency, welcomed the Bank of Israel's interest rate cut, saying the entire Israeli economy centered on the business sector urgently needs the easing of heavy credit costs as it transitions from three years of war to a growth phase. The cut will allow the business sector to ramp up investment, hire, and return the economy to real growth, according to N12.
Dubi Amitai, chairman of the Business Sector Presidency, welcomed the Bank of Israel's interest rate cut on Monday, calling it a necessary relief for an economy transitioning from three years of war to a growth phase. In a statement reported by N12, Amitai said the entire Israeli economy, centered on the business sector, urgently needs the easing of heavy credit costs. The cut, he argued, will enable the business sector to boost investment, hire, and drive real growth. As The Zioneer reported earlier Monday (16:21 Jerusalem), the Manufacturers Association of Israel had also praised the cut but called it 'a step in the right direction, but far from enough,' urging further reductions. Amitai's more unequivocal endorsement signals broad business-sector support for the monetary easing.
5 developments
- DevelopingHi-Tech Union chair says Bank of Israel rate cut 'a step in the right direction, but insufficient'
- DevelopingLahav chair: Bank of Israel rate cut insufficient, half-point reduction was needed
- DevelopingAnalysts assess Bank of Israel will cut interest rate by quarter point tomorrow
- DevelopingBuilders head calls on Bank of Israel to cut rate to 2.5%, slash rental taxes
Source and signal
- Internal intake