Strong Shekel Will Delay Return to Inflation Goal, BOI Says
- Israel central bank official Andrew Abir comments in interview
- Inflation target is 1%-3%; prices rose 0.1% in January
Shekel currency banknotes at Israel's central bank in Jerusalem, Israel, on Aug. 19, 2013.
Photographer: Ariel Jerozolimski/BloombergThis article is for subscribers only.
The shekel’s recent rally means it will likely take longer for Israel’s inflation rate to reach the target range, according to a senior official at the central bank.
The shekel gained 3.5 percent against the dollar in February, the second-biggest gain in an expanded basket of major currencies tracked by Bloomberg, after Israel’s economy unexpectedly grew 6.2 percent in the fourth quarter.