Manufacturers Association of Israel welcomes rate cut, urges Bank of Israel to continue reductions

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

1. 16:36 · 6 JulLatest

   Dubi Amitai: Rate cut enables business sector to invest and hire.

2. 16:35 · 6 Jul

   Business Sector Presidency chairman welcomes rate cut as necessary economic relief.

3. 16:21 · 6 Jul

   Manufacturers Association calls the rate cut a step, but insufficient.

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