In a move widely anticipated by market analysts, Israel has decided to maintain its interest rate at 4.50% for the month of August 2024. This comes after the central bank had already put a pause on rate hikes in July, also marking a halt at 4.50%.The announcement, made official on August 28, indicates a continued cautious approach by the Bank of Israel amidst global economic uncertainties. By keeping the rate unchanged, the central bank aims to balance between curbing inflation and fostering economic growth. Analysts will be closely watching the next rate decision for any signs of a shift in monetary policy direction.The rate hold provides a stable environment for both businesses and consumers who rely on predictability for their financial planning. As the economic landscape continues to evolve, Israel’s central bank remains vigilant, ready to adjust its strategies in response to both domestic and international economic developments.The material has been provided by InstaForex Company – www.instaforex.com
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