Rock-bottom rates in Israel says something larger about inflation

Rock-bottom rate in growing economy is instructive
Bank of Israel kept its benchmark rate at 0.10% today.
There is simply no inflation.
There is a believe at central banks that inflation will follow growth but Israel shows that’s not necessarily the case. In the first three quarters of the year, the economy has grown at a 4.0% annualized pace. The OECD forecasts 3.25% growth in 2017 and 2018.