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On Tuesday, the Bank of Israel tried to slow things down a bit by purchasing more than $400 million, not for the first time.
"The volume of transactions continues to decline, apparently due to uncertainty regarding the effect that government programs in the housing area will have."
By law, if a decision is not made by the end of the year, the surplus money will automatically go to finance the budget deficit – bringing it down to about 1.5 percent, 50 percent below the budget deficit target.
Fischer said he is stepping down for unspecified "personal reasons." His resignation is effective October 13.
The pressure applied by Knesset Finance Committee Chairman MK Moshe Gafni has worked, and The Bank of Israel has instructed the banks on granting exemptions to Gemachim from reporting to the US authorities to comply with the FATCA agreement.
"Housing market data have indicated moderation in demand for homes... and continued decline in the flow of new mortgages taken out."
Last year the Bank of Israel won Central Banking magazine's "Transparency Award."
Israel's economic growth is expected to hit 3.8% for 2016. Job creation is strong, at almost 3 percent in 2016 ( the US economy expanded at around 1.4% in 2016).
The financial front in Israel is generally looking good, and the Bank of Israel wants to keep it that way, so no changes in January.
Good news for families who are buying homes or refinancing: no change in the interest rate next month.
Using the US' enormous economic clout, FATCA bullies the world's financial institutions into reporting on their American clients to Uncle Sam.
The shekel-dollar rate plummeted to 3.92 Thursday afternoon after the Bank of Israel announced it is leaving the interest rate unchanged next month. Before the...
Israel's sales and corporate taxes will be cut in order to spur a sluggish economy.
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