Alarmed by the quick appreciation of the shekel and noting the wave of central bank easing...

|By:, SA News Editor

Alarmed by the quick appreciation of the shekel and noting the wave of central bank easing worldwide, the Bank of Israel doesn't wait for its next policy meeting to cut its benchmark rate 25 basis points to 1.5%. The bank also announces it plans to sell shekels to offset any appreciation likely to come about from the beginning of natural gas production at the Tamar field. The Israel stock ETF (EIS) +7.6% YTD.