Israeli Bonds Gain on Lower-Than-Forecast Inflation Rate in May
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Israel’s 10-year government bond rose on speculation a below-forecast inflation rate in May will lessen pressure on the Bank of Israel to raise interest rates this month.
Annual inflation accelerated to 4.1 percent from 4 percent, the Jerusalem-based Central Bureau of Statistics said yesterday. That was below the 4.2 percent median estimate of 14 analysts in a Bloomberg poll. Central bank governor Stanley Fischer has increased the benchmark lending rate four times this year in a bid to curb rising prices.