Smotrich Calls for Immediate Sharp Interest Rate Cut After CPI Drop
Finance Minister Bezalel Smotrich on Tuesday issued a statement after the consumer price index fell 0.3% overnight, saying the inflation data supports an urgent move by the Bank of Israel. He urged the governor to cut interest rates sharply and immediately, arguing the bank should have acted earlier.
Smotrich said the economic figures “speak for themselves” and that inflation is “in a good and desirable place.” He added, “I repeat my call to the Governor of the Bank of Israel to lower interest rates, this time sharply. This step has been necessary for a long time, and I very much hope the Bank of Israel will act to correct this.”
The minister said a faster response to the fall in prices could already have eased pressure on households and business owners. He said it would have reduced the cost of mortgages and loans paid by the public and helped accelerate economic growth.
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