The Manufacturers Association of Israel welcomed the Bank of Israel's interest rate cut but called for further reductions, according to N12. The association described the cut as 'a step in the right direction, but far from enough.'
The Manufacturers Association of Israel welcomed the Bank of Israel's interest rate cut on Monday, but urged the central bank to continue reducing rates, calling the move 'a step in the right direction, but far from enough.' The Bank of Israel had lowered its benchmark rate earlier in the day, as analysts had anticipated (The Zioneer, July 5). Finance Minister Bezalel Smotrich had also called for a rate cut ahead of the decision. The association's statement reflects ongoing pressure on the central bank to ease monetary policy amid the economic climate.
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