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Bank of Israel

Bank of Israel keeps benchmark interest rate at 0.1pc
Business & Finance

Bank of Israel keeps benchmark interest rate at 0.1pc

  • Israel's inflation rate moved to 0.8% in April from 0.2% in March, just below the government's 1-3% annual target range. While the economy contracted an annualised 6.5% in the first quarter from the prior three months, growth is expected to reach 4-6% in 2021 given more than half of Israeli adults are already vaccinated and the economy has largely reopened.
Published 31 May, 2021 07:07pm
Bank of Israel holds benchmark interest rate at 0.1pc
Business & Finance

Bank of Israel holds benchmark interest rate at 0.1pc

  • All 15 economists polled by Reuters had said they expected the monetary policy committee to keep rates steady after doing so ever since cutting them from 0.25% early last April.
  • Central bank officials have expressed reluctance to lower the key rate from an all-time low to zero or into negative territory despite a strong shekel and three lockdowns.
Updated 22 Feb, 2021 10:06pm
Bank of Israel's statement after monetary policy meeting
Business & Finance

Bank of Israel's statement after monetary policy meeting

  • The broad unemployment rate increased during the third lockdown, to about 20 percent in the second half of January, after having declined to about 13 percent during the period between the lockdowns.
  • From the previous interest rate decision until January 14, the shekel strengthened by 3.2 percent in terms of the nominal effective exchange rate.
Updated 22 Feb, 2021 10:06pm
Dented by COVID-19, Israeli economy dips 2.4pc in 2020
World

Dented by COVID-19, Israeli economy dips 2.4pc in 2020

  • It was the first time the economy had shrunk since a marginal decline in 2002, but Israel in 2020 outperformed a 5.5% average contraction in OECD countries.
  • The economy, which grew 3.4% in 2019, had been expected to shrink 3.3% to 3.7% in 2020 based on government and central bank estimates because of COVID-19.
Published 16 Feb, 2021 05:16pm
Bank of Israel sees strong rebound if vaccine rolled out quickly
Markets

Bank of Israel sees strong rebound if vaccine rolled out quickly

  • The bank left its benchmark interest rate at 0.1% for a sixth straight meeting, in line with analysts' forecasts in a Reuters poll.
  • The central bank said that if the rapid rate of inoculation was maintained, it forecast the economy to grow by 6.3% in 2021 and 5.8% in 2022.
Published 04 Jan, 2021 08:44pm