Consumer confidence stands at levels not seen since the COVID-19 pandemic in 2020, while the annual inflation rate has eased back down to 3%.
The shekel ILS = currency now stands at 3.66 per dollar versus 3.68 before the ratings action, in which Moody's kept its outlook at negative to imply a further cut.
Indirect impacts could arise through decisions of the government and the Knesset on economic policy issues
What is a credit rating, how is it determined, and how will Moody's dramatic decision impact Israelis?
While Netanyahu claims economy is strong despite credit rating change, MK blames political turmoil for nation's threatened credit rating.
Israel's war with Hamas is not the only issue noted by the ratings agency, citing the looming threat at Israel's northern border.
The Knesset Economic Committee approved an extension of working hours for bus and truck drivers to up to 14 hours a day during the war, putting additional strain on them.
What could the outcome of the state budget for 2024 be?
Decisions made by rating agencies will undoubtedly have a lasting impact on financial landscape, government's fiscal policies, and overall well-being of Israeli citizens.
Store owner Gal Anav announced the liquidation of his business in a facebook post amid the ongoing conflict with Hamas.
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