BoI implemented first interest rate cut since March 2020 to stimulate economic growth.
The BOI offers temporary relief to borrowers, allowing them to increase their mortgage for debt relief or Merkhav Mugan (protected space) construction in old apartments.
The shekel-dollar rate has dropped below NIS 3.6, indicating the Israeli currency’s increasing strength — but it may be coming as a result of deeper issues.
Gafni blasts Yaron as ‘bad governor’
Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich agree on a second five-year term for Bank of Israel Governor Amir Yaron.
The Bank of Israel's research department analyzed the proposed amendments to the 2023 budget and warned that some elements of the changes could damage Israel's economic standing.
The current circumstances make it impossible to carry on business as usual on the economic front.
The Bank’s central concern at present is the depreciation of the shekel as an inflationary risk.
Under the plan, loan payments of mortgages, consumer credit and business credit would be deferred without charging interest and without charging fees.
ECONOMIC AFFAIRS: Besides inflation, the shekel-US dollar rate will also impact the interest rate decision.
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