Israel is the latest in a long line of rate-raisers to keep interest rates on hold. Australia maintained its cash rate at 4.5 per cent on August 3; South Korea held at 2.25 per cent a week later. Sweden is expected to hold at its September 1 meeting and Brazil expects to hold till at least December. Malaysia, a three-time rate-raiser, is expected to hold on September 2.
Plenty of other countries are holding – or, indeed, cutting – but that is less of a surprise, since in these countries, rates haven’t risen since the financial crisis. Mexico and Colombia both held on Friday and Poland is expected to do likewise tomorrow. The Philippines, which had been expected to raise rates at its August meeting, is now expected to hold. Read more