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Bank of Israel holds interest rate, shekel gains vs. dollar

Feb. 25, 2019 11:54 AM ETiShares MSCI Israel ETF (EIS), ISRA, ITEQ, IZRLISL, EIS, ISRA, ITEQ, IZRLBy: Liz Kiesche, SA News Editor
  • The Israeli shekel strengthens 0.1% against the U.S. dollar after the Bank of Israel's monetary committee maintains its key interest rate at 0.25%, taking a dovish tone after November's unexpected hike.
  • iShares MSCI Israel Capped ETF (NYSEARCA:EISgains 1.1%.
  • Repeats standard language: "The Committee assesses that the rising path of the interest rate in the future will be gradual and cautious."
  • The annual inflation rate returned to the lower bound of the Bank of Israel's target range in January, after dipping in December, and is expected to hover near the target range in coming months.
  • YTD, the shekel has risen 3.7% against the U.S. dollar.
  • Previously: Bank of Israel unexpectedly boosts interest rate to 0.25% (Nov. 26, 2018)
  • ETFs: EIS, ISRA, ISL, ITEQ, IZRL

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