Negative Rates No More Taboo in Israel as Virus Hits Economy

(Bloomberg) -- The Bank of Israel shifted course by cutting interest rates to just above zero, and hinted it may not stop there if the coronavirus continues to ravage the economy.In a sign it could be rethinking a long-held reluctance to push borrowing costs into negative territory, the monetary committee said it would expand the use of existing tools, including rates, and introduce new ones depending on the length of the crisis. On Monday, it brought the key rate back to its all-time low of 0.1