(Bloomberg) -- The Bank of Israel lowered its benchmark lending rate by a quarter-point and signaled further cuts as five earlier reductions failed to spark a depreciation of the shekel and boost inflation to the government's target range.
The rate the central bank charges commercial lenders was lowered to 3.75 percent as of April 26, the Jerusalem-based bank said in a statement. Ten out of 11 economists surveyed by Bloomberg last week had forecast the 25-basis point reduction, with the one saying the rate would remain unchanged.
Read more at Bloomberg Emerging Markets News
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