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Israel Money Supply and Inflation Forecasts: Summary

Sept. 20 (Bloomberg) -- Following is a summary of Israel’s latest inflation forecast and August M1 money supply from the Bank of Israel in Jerusalem:

===============================================================================
                      Last 30   Aug.   July   June    May  April  March   Feb.
                         Days   2011   2011   2011   2011   2011   2011   2011
===============================================================================
                        --------------- Expected Inflation Rate ---------------
Average of Forecasts*    2.3%   2.7%   2.9%   3.0%   3.1%   3.1%   3.1%   3.1%
Calculated from Capital Market**
 First Year              2.0%   2.1%   3.0%   2.9%   3.2%   3.1%   3.7%   3.8%
 Second Year             2.2%   2.3%   2.8%   2.9%   2.9%   3.0%   3.2%   3.1%
 Third Year & After      2.5%   2.5%   2.7%   2.6%   2.5%   2.5%   2.7%   2.7%
                        ------------------- M1 Money Supply -------------------
Average Balance           n/a  116.4  114.6  118.7  115.6  115.4  113.1  114.1
MoM                       n/a   1.6%  -3.5%   2.6%   0.2%   2.1%  -0.9%  -2.2%
YoY                       n/a   3.6%   1.2%   7.6%   3.9%   4.8%   4.9%   8.1%
===============================================================================
NOTE: M1 balance in ILS/Billion. Last 30 days figure shows average inflation
      expectations over previous thirty days
    * = Average of forecasts 12 months forward.
        Simple arithmetic mean of the inflation forecasts of
        the commercial banks and economic consultancy companies
        that publish their forecasts on a regular basis.
   ** = Inflation expectations are defined as break-even
        inflation and they include a risk-premium component.

SOURCE: Bank of Israel

To contact the reporter on this story: Mark Evans in London at mevans8@bloomberg.net

To contact the editor responsible for this story: Marco Babic at mbabic@bloomberg.net

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