Bank of Israel holds benchmark interest rate at 1.0 percent
JERUSALEM Oct 28 (Reuters) - The Bank of Israel held its benchmark interest rate at 1.0 percent as expected on Monday, after cutting rates a month ago and as the shekel has stopped appreciating.
The decision was the fourth for Deputy Governor Karnit Flug, who has been acting central bank chief since July. Flug has been nominated to become governor and has been approved by the cabinet.
The monetary policy committee last month lowered its key rate by a quarter-point to its lowest level since December 2009 in a surprise move seeking to contain a rally in the shekel and as it saw slower growth in consumer and government spending in 2014.
Israel's economy is projected to grow 3.6 percent this year and 3.4 percent in 2014, according to the Bank of Israel.
The shekel stands at a rate of 3.53 per dollar, little changed in the past month. (Reporting by Steven Scheer)
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