April 10, 2014 / 10:32 AM / 4 years ago

Bank of Israel to make rate announcements earlier in the day

TEL AVIV, April 10 (Reuters) - The Bank of Israel will bring forward the time of publishing its interest rate decision to 4 p.m. (1300 GMT) from 5:30 p.m., when there is still active trading in Israeli markets, the central bank said on Thursday.

“Having assessed the accepted practices at a number of central banks around the world, the monetary committee has decided to bring forward the time of publishing the interest rate decision,” the bank said in a statement.

“This publication time will enable those active in all of the markets to respond to the interest rate decision, thereby creating symmetry between the various markets.”

The earlier interest rate announcement time will take effect from the next decision on April 28.

The monetary committee makes a decision on the interest rate each month, on the last Monday preceding the last Wednesday of the calendar month.

In June 2013, trading in stocks and bonds on the Tel Aviv Stock Exchange was extended to 5:25 p.m., and trading in derivatives ends at 5:35 p.m.. The foreign exchange market operates even after that time. (Reporting by Tova Cohen; Editing by Toby Chopra)

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