The Bank of Israel's Monetary Committee lowered the interest rate by a quarter of a percent to 3.75% (prime rate 5.25%). This is effectively the second time since the beginning of the year that the Bank of Israel has cut the interest rate, with the previous reduction in January also being a quarter of a percent. The bank deliberated considerably regarding the interest rate cut, as in the two previous decisions it was decided to keep it at 4%. However, now the possibility of ending the military conflict in the Middle East, as well as the stabilization of annual inflation at a rate of 1.9%, deep within the government's target range, led the committee to lower the interest rate again.
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