Tel Aviv - Ma'an - The Bank of Israel kept interest rates unchanged on Monday for the fourth consecutive meeting, maintaining its cautious policy due to the nine-month war that Israel has been waging on the Gaza Strip, as well as stable inflation. The bank kept its benchmark interest rate at 4.50%. The bank had cut interest rates by 25 basis points in January after inflation fell and economic growth was hit by the war on Gaza, but kept policy unchanged in February, April and May. Source: Maan News Agency
Related Articles
Oil Surges More Than 7% as Strait of Hormuz Closure Roils Markets
Muscat: Oil prices jumped more than 7 percent today, rebounding sharply from steep losses in the previous session as the closure of the Strait of Hormuz rattled global energy markets. Brent crude futures climbed $6.56, or 7.26 percent, to $96.94 per b…
Nama Signs Agreement for Oman’s First Utility-Scale Solar, Battery Storage Project
Muscat: Nama Power and Water Procurement (PWP) has signed an agreement for the development of the Sultanate of Oman’s first utility-scale solar and battery storage project. The project will be developed by a consortium that includes Abu Dhabi Future E…
Tender Results of Government Treasury Bills Worth RO 176 Million Issued
Muscat: The total issuance of Government Treasury Bills amounted to RO 176.050 million. The value of the allotted Treasury bills amounted to RO 43.8 million, for a maturity period of 91 days. The average accepted price reached RO 98.980 for every RO 1…