Five of six Bank of #Israel MPC members voted to keep rate at 0.1%, minutes show | Reuters

Five of six Bank of Israel MPC members voted to keep rate at 0.1%, minutes show | Reuters

Five of six rate setters at the Bank of Israel voted to keep the benchmark interest rate ILINR=ECI at 0.1% on Oct. 22, minutes of the discussions showed on Thursday.

“They were of the opinion that this low interest rate level

supports the recovery of economic activity and the gradual return of the inflation rate to within the target range, and particularly in view of the Bank of Israel operating additional tools in the credit market,” the minutes said.

The other member of the monetary policy committee supported a reduction of the key rate to 0%.

The MPC in its prior meetings on Aug. 24, July 6 and May 25 had voted to hold its key rate after it reduced it in April to 0.1% from 0.25%.