Bank of Israel Governor Prof. Stanley Fischer has slashed interest rates to an unprecedented 1%, attributing the move to a bleak economic forecast for the coming months.
 
Globes online adds “While slowing growth and falling inflation have been mentioned in the past, the pace seems to be accelerating, leading Merrill Lynch, in its most recent review of Israel’s economy, to describe a ‘hard landing’ ahead.”
 
The interest rate decision is the sixth interest rate cut in a row. The rate has been slashed 3.25% in less than four months.

(Yechiel Spira – YWN Israel)