Bank of Israel keeps base rate unchanged at 1.75%

The Bank of Israel's monetary committee left the base lending rate unchanged for March at 1.75%.

Two months ago the central bank reduced its key rate by 0.25%, and in the past 17 months it lowered interest rates six times by a total of 1.5%.

The decision to keep the interest rate for March 2013 unchanged at 1.75% is consistent with the Bank of Israel's interest rate policy, which is intended to entrench the inflation rate within the price stability target of 1–3 percent a year over the next twelve months, and to support growth while maintaining financial stability.