Published 1 year ago • loading... • Updated 1 year ago

Bank of Israel cuts rate by 25 basis points, first easing by developed country

The Bank of Israel's monetary committee has lowered interest rates by a quarter-point to 4.5%, the first reduction in almost four years, due to falling inflation and concerns about the economic impact of the Gaza war.
Analysts were divided on the decision, with seven expecting no change and seven predicting a 25 basis point reduction. The Finance Ministry estimates a budget deficit of around 6% of GDP in 2024.
Governor Amir Yaron emphasized the need for responsible budget adjustments to prevent rising debt and its potential consequences on inflation and interest rates.

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Xinhua

Israel's central bank cuts interest rate to 4.5 pct amid ongoing conflict

1 year ago·China

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Financial Times

Israel must curb spending to avoid market backlash, warns central bankFinancial Times

Governor urges government to start budget tightening this year to pay for cost of war

1 year ago·London, United Kingdom

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Jerusalem Post

BoI lowers interest rate by 0.25% in bid to combat inflation

BoI implemented first interest rate cut since March 2020 to stimulate economic growth.

1 year ago·Jerusalem, Israel

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Bloomberg

Israel Delivers First Rate Cut Since Pandemic as War Rages

Israel’s central bank warned the government’s fiscal response to the war against Hamas risks pushing the country into greater debt and could be an obstacle to further monetary easing, after it cut interest rates for the first time since the height of the global pandemic in 2020.

1 year ago·United States

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Haaretz

Bank of Israel cuts interest rate for first time in two years

The Bank of Israel's monetary committee lowered interest rates for the first time in nearly four years on Monday, amid signs of falling inflation and concerns of an economic slowdown as a result of the Gaza war.

1 year ago·Tel Aviv-Yafo, Israel

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The Star Kuala Lumpur

Israel's central bank cuts interest rate to 4.5 pct amid ongoing conflict

Israel's central bank announced on Monday the decision to lower its benchmark interest rate by 0.25 percentage points to the new rate of 4.5 percent, according to a statement released by the bank.

1 year ago·Malaysia

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