Jul
25
Bank of Israel Holds Rate as Home Prices Rise, Growth Slows
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All 17 economists in survey said rate to remain at 0.1 percent
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Central bank is monitoring impact of Brexit vote on exports
The Bank of Israel left its benchmark interest rate near zero, as growth slowed, home prices rose and exporters braced for the impact of the U.K.’s vote to leave the European Union — Israel’s largest trading partner.
The decision to hold the rate at 0.1 percent was forecast by all 17 economists in a Bloomberg survey. The central bank said last month it was closely monitoring developments surrounding the Brexit vote, amid fears it could crimp demand for exports that declined 12.9 percent in the first quarter, excluding diamonds and startups. The bank last changed the rate in February 2015…