UPDATE 1-Bank of Israel leaves rates unchanged, sees less economic damage in 2020
The Bank of Israel left its
benchmark interest rate at 0.1% on Monday, saying
economic damage from the coronavirus outbreak was likely to be
less than initially feared.
“The gradual process of removing the restrictions that the
government imposed on movement and activity is beginning to be
reflected in economic activity, though the adverse impact on the
economy is still considerable and is expected to persist,” the
central bank said.
benchmark interest rate at 0.1% on Monday, saying
economic damage from the coronavirus outbreak was likely to be
less than initially feared.
“The gradual process of removing the restrictions that the
government imposed on movement and activity is beginning to be
reflected in economic activity, though the adverse impact on the
economy is still considerable and is expected to persist,” the
central bank said.
Posted by Reuters
