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presentation - Monetary policy in 2001

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Diagram 1: the Inflation Target and the curve of Inflation Expectations (period averages)

Diagram 2: The Volatility of Inflation in Countries with a Low Inflation Rate, 1999-2000 (month-on-month standard deviation)

Diagram 3: Inflation Expectations and Economic and political Events

Diagram 4: The Exchange Rate of the NIS Against the Currency basket and the US Dollar

Diagram 5: Exchange - Rate Volatility in Selected Countries (moving 30 - day average)

Diagram 6: Probability of Depreciation of over 10 percent for 6 Month Ahead

Diagram 7: The Development of the Short - Term Interest - Rate Differential Between Israel and the US

Diagram 8: The Bank of Israel's key interest rate, Inflation Expectations, and the Derived Real interest Rate

Diagram 9: Components of Inflation Expectations

Diagram 10: Nonresidents' Investments in Israeli Shares, 1995 - 2001

Diagram 11: Growth Rate of World Trade

Diagram 12: The Unemployment Rate

Diagram 13: The Budget Deficit

Author: Dr. Meir Sokoler