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All 4 Israel MPC members voted to hold benchmark rate at 0.1 pct
December 12, 2016 / 11:48 AM / a year ago

All 4 Israel MPC members voted to hold benchmark rate at 0.1 pct

JERUSALEM, Dec 12 (Reuters) - All four rate setters at Israel’s central bank voted to keep the benchmark interest rate at 0.1 percent for a 21st straight month on Nov. 28, minutes of the discussions showed on Monday.

Policymakers cited an improvement in the deflation trend, in which the annual inflation rate rose to -0.3 percent in October from -0.4 percent in September.

“Annual inflation has been in an upward trend recently - due to the dissipation of the effect of the declines in energy prices and price reductions initiated by the government - but it remains negative, and below the target range,” the minutes said, referring to an annual 1-3 percent inflation target.

It added that growth in wages will help to push inflation back to its target in 2017, while policymakers also pointed to solid economic growth backed by “near full employment.” (Reporting by Steven Scheer, Editing by Ari Rabinovitch)

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