Bank of Israel Cuts Interest Rates

by Eric on December 29, 2008

The central bank of Israel has proven that Israel is just as tied up in the world economy as any other country. For the fifth time this year, the Bank of Israel, headquartered in Jerusalem, cut interest rates. This time it was .75%. The rate now stands at a record low of 1.75%.

The shekel is now at 3.855 per dollar. Things might be getting a bit cheaper for Americans traveling in Israel.

Read more at Bloomberg.

About the author

Eric Eric is the founder and editor of IsraelSituation.com. He has been to Israel many times including a semester at Hebrew University of Jerusalem. He is the former president of the Israel advocacy group at the University of Colorado and teaches about Israel and the Media at a local religious school.

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