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Jerusalem Life

| Bank of Israel to buy NIS 50 billion in bonds to steady sinking economy

Janglo News    
Tuesday, 24 March 10:37 AM

The Bank of Israel said Monday that it would buy NIS 50 billion ($13.4 billion) in government bonds on the open market to ease credit conditions and bolster the economy as the coronavirus crisis bludgeons the national economy and global markets.

The move is the latest in a series of measures by the bank to stabilize the economy as it deteriorates amid skyrocketing unemployment, government restrictions, shuttered businesses, plunging equities and consumer fears.

Full Story (The Times of Israel)
         
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