Bank Of Israel Slashes Key Rate 25 BPS, 2nd Cut This Month

The Bank of Israel slashed yesterday its benchmark rate by 25 basis points to 1.25 percent, marking the second rate cut this month.

The central bank has cut the interest rate for the second time in two weeks.

Bank of Israel's Governor Stanley Move:

Governor Stanley Fischer and his monetary committee cut the interest rate as the bank continues to fight a strong shekel and to tame the slow economic growth.

Bank of Israel had to confront the appreciating shekel as it would affect Israel’s exporters. Last month, the bank tried forex market intervention technique for the first time in almost two years....