- The Bank of Israel has unexpectedly lowered its benchmark interest rate by a quarter of a percentage point to 0.75%, the first cut in five months.
- The BOI cited lower-than-expected inflation, consumer pessimism and "disappointing" U.S. economic data.
- "We are not yet close to a recession, but we're moving in that direction," said Rafi Melnick, a member of the BOI's monetary policy committee. "There was certainly the concern of unemployment developing." (PR)
- The Tel Aviv 25 is flat.
- ETFs: EIS, ISRA
Bank of Israel surprises with rate cut
Feb 25 2014, 03:31 ET