Economics
Israel 2023 Yield Drops to Record After Surprise Rate Cut
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The yield on Israel’s benchmark government bonds fell to the lowest on record after the central bank unexpectedly reduced the borrowing rate in an effort to boost growth.
The yield on the 4.25 percent notes due in March 2023 dropped eight basis points, or 0.08 percentage point, to 3.33 percent at the close in Tel Aviv. The Bank of Israel lowered the interest rate for the first time in five months by 25 basis points to 0.75 percent last night. Only five of 24 analysts surveyed by Bloomberg forecast the decision.