In an unexpected move, the Bank of Israel lowered the interest rate by half a percent to 3 percent the lowest interest rate in the history of the country.   The reduction will go into effect on Friday, November 14th.   The latest interest reduction follows two previous reductions totaling 0.75 percenyt last month.  Bank of Israel officials noted that the interest reduction was meant to boost the Israeli economy's ability to successfully cope with the implications of the current global economic slowdown.  11/12/08