In May 2013 the Bank of Israel (BoI) cut its interest rate by 50bps in two separate moves. First, the BoI announced on May 13, 2013 an interest rate cut of 25bps outside the regularly scheduled framework of interest rate decisions, effective as of May 17, followed by another cut of 25bps to June’s interest rate, announced in the regular format on May 27. As of early June 2013 the interest rate of the BoI stands at 1.25%.
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