JERUSALEM, Jan. 5 (Xinhua) -- Israel's central bank on Monday cut its benchmark interest rate by 25 basis points to 4 percent, a move that defied most analysts' expectations.
This marks the second consecutive rate cut in two months after the Bank of Israel held the rate steady at 4.5 percent for nearly two years. The previous adjustment was in late November when the bank lowered the rate by 0.25 percentage points.
