27.07.2010 - Fischer raises key Israel rate to prevent real estate bubble

From Bloomberg: Bank of Israel Governor Stanley Fischer raised the benchmark interest rate for the first time in four months in a bid to cool housing prices which he says could develop into a bubble. Fischer yesterday unexpectedly increased the rate by a quarter percentage point to 1.75 percent. Only five of 16 economists surveyed by Bloomberg had predicted the decision, while eleven expected no change..............................................Full Article: Source

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