Archives for June, 2008

banks

ריבית בנק ישראל לחודש יולי 2008

The Bank of Israel will raise its base rate by 0.25% – ריבית בנק ישראל לחודש יולי 2008 There are no surprises here. The markets and foreign currency exchanges have already adjusted for this. If we weren’t experiencing our foreign currency challenges right now, the hike would have been higher. If things remain similar, there will probably be an additional hike next month. The rate is still quite reasonable. The LIBOR right now is around 2.8 and the US rate is 2.0. We can’t have such high differences for long. What you aren’t hearing about is that the banks are starting to offer less attractive mortgages. It looks like the competition between the banks has run its course for now, and the crazy programs...
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Inflation again

Read about it here, straight from the Central Bureau of Statistics:הודעות לעיתונות Inflation for the month of May was 0.7%. Inflation is officially out of hand. Jump down to around page 12 where it gives you the figures for the past twelve months. 5.4%. Expect interest rates to go up next month. If you have a loan in process, finish up quickly....
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banks

Wasting time on bank fees

If you haven’t heard about this on the radio today, here you can see the full presentation in all of its professional glory right here: Official Bank of Israel Presentation I have commented on this previously. This incredible “reform” that the Bank of Israel is forcing on the banking sector is expected to save you an average 50 agarot a month. I am grateful to these people for providing me with a livelihood. If they were ever to solve the real problems in Israeli banking, I might be out of a job. Somehow I don’t see that happening anytime soon. My good fortune is that the regulators don’t listen to my suggestions. 95% of bank revenues come from loans. Think mortgage. They’re making money...
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