Israel central bank’s Abir says buying corporate bonds to prevent layoffs – Reuters

JERUSALEM (Reuters) – The Bank of Israel’s decision to start buying corporate bonds should enable companies to issue debt and prevent further layoffs as a result of the coronavirus pandemic, deputy governor Andrew Abir said. FILE PHOTO: Bank of Israel Deputy Governor Andrew Abir poses for a picture in his office in Jerusalem July 8,…

Israel central bank’s Abir says buying corporate bonds to prevent layoffs – Reuters

JERUSALEM (Reuters) – The Bank of Israel’s decision to start buying corporate bonds should enable companies to issue debt and prevent further layoffs as a result of the coronavirus pandemic, deputy governor Andrew Abir said. FILE PHOTO: Bank of Israel Deputy Governor Andrew Abir poses for a picture in his office in Jerusalem July 8, 2020. REUTERS/Ammar AwadOn Monday, the bank held its benchmark interest rate ILINR=ECI at 0.1% but said it would buy 15 billion shekels ($4 billion) of higher-rated corporate bonds in the secondary market. “It’s not that the corporate bond market was not functioning or because spreads have widened dramatically, but rather the understanding that over the next 6-12 months, the
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