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Netanyahu's Economic Adviser Says Markets Ignore Moody's Downgrade of Israel
(Reuters) Steven Scheer - Since Moody's on Friday cut Israel's sovereign credit rating to A2 from A1 due to the Gaza war, markets have moved little, said Avi Simhon, director of the National Economic Council in the Prime Minister's Office. "The fact that the markets did not react to Moody's announcement...shows the markets do not pay much attention to what Moody's says." Simhon, like other government officials, believes the ratings reduction was not warranted since they believe the economy will recover quickly once the war is over. "It's a temporary thing. We have a war and we have to finance it. It costs a lot but we can manage it."