Bethel Finance news:
The Bank of Israel has cut current 12-month inflation expectations calculated from the capital market (through March 2012) to 3.3% from 3.7% in March. Current inflation expectations for the subsequent 12-month period (through March 2013) have fallen to 3% from 3.2% in March.
Current inflation expectations for the 12 months through March 2014 are down to 2.6% from 2.7% in March.
The average 12-month inflation expectations of banks and investment houses is unchanged at 3.1%, the same as in March and February.
Although the 12-month inflation expectations are still above the government's 1-3% inflation target, they are falling closer to the upper limit as the Consumer Price Index (CPI) rose 0.2% in March, in line with capital market forecasts.
Analysts believe that it will raise the interest rate by 25 basis points to 3.25%
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