June 8, 2020 / 11:12 AM / a month ago

5 of 6 Bank of Israel MPC members voted to hold rate at 0.1%, minutes show

JERUSALEM, June 8 (Reuters) - Five of six rate setters at the Bank of Israel voted to keep the benchmark interest rate at 0.1% on May 25, minutes of the discussions showed on Monday.

The other member of the monetary policy committee supported a reduction of the key rate to 0%. The MPC in the prior meeting on April 6 had voted to reduce the key rate to 0.1% from 0.25%.

“The low interest rate, together with the additional monetary tools operated by the Bank of Israel, at this time support convenient credit terms all along the curve,” the central bank said.

Reporting by Steven Scheer; Editing by Tova Cohen

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