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Bethel Finance news:
The shekel strengthened against both the US dollar and the euro at the opening of trading this morning, in the last week of 2011. The market awaits the Bank of Israel's interest rate decision later today. The shekel-dollar rate is 0.24% lower than Fiday's representative rate, at NIS 3.7740/$, while the shekel euro rate is very slightly lower, by 0.09%, at NIS 4.9410/€.
On world markets, the euro is 0.1% stronger against the dollar, at $1.305/€; sterling is 0.2% stronger, at $1.5615/£; while the yen is 0.2% stronger, at ¥77.988/$.
At 17:30 today, the Bank of Israel will announce its interest rate for January. Bloomberg's survey of analysts finds that most believe that the central bank will lower the rate by 0.25% for the second successive month; a minority estimates that the rate will be left unchanged at 2.75%.
The Bank of Israel projects a slowdown in the growth rate of the Israeli economy in 2012, to 3.2%, compared with over 4% in 2011. Governor of the Bank of Israel Stanley Fischer has said recently that the bank will probably lower the 2012 growth forecast to 2.9%.
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