In this week's Leumi Economics Weekly:
- The current increase in new home sales supports a continued moderate rise in housing prices in the short-term
- As expected, the Bank of Israel (BoI) kept its interest rate unchanged at 0.25%. The BoI's monetary expansion is expected to continue primarily through foreign currency market activity
- The BoI significantly ramped up its pace of foreign currency purchases in November-December 2019. The governor is signaling that the BoI is expected to continue this policy
- The Ministry of Finance (MoF) raised US$3.0bn in an overseas bond issue with durations of 10-30 years. This fundraising is not expected to have a substantial impact on local fundraising
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