11.04.2011 Uncategorized No Comments

Interest rates up by 0.5%

Interest rates were raised by 50 basis points by the Bank of Israel for the month of April. This was a surprise to the markets, as they had priced in only a 25 basis point hike.
It is now widely expected that interest rates will be hiked again for the month of May by at least another 25 basis points. The only case whereby this is unlikely to happen is if the US Dollar v Shekel exchange rate continues to plummet, as another interest rate hike will put more pressure on this currency pair.

Anyone who has a variable rate mortgage is going to see their monthly payments rise fairly considerably over the course of 2011.

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