Polish shares fell the most in June as leaked recordings of a conversation between the central bank chief and a minister sparked a political crisis. The zloty pared losses as Prime Minister Donald Tusk defended the policy maker.
Karnit Flug will probably wait before lowering Israel’s benchmark interest rate again to weaken the shekel, leaving borrowing costs unchanged today in her first meeting as central bank chief, a survey of economist showed.
Israel’s quickening economic growth is bringing no relief to the nation’s banks, whose profits are being hit by record-low lending rates and an appreciating shekel that’s whacking their exporter clients.
Israel’s central bank needs to follow yesterday’s surprise interest rate cut and dollar purchase plan with more measures to succeed in stemming the shekel’s gains, the currency’s most accurate forecasters say.