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Bank of Israel Lowers Interest Rate, Predicts Two More Cuts by Mid-2024
Bank of Israel Governor Amir Yaron cut interest rates to 3.5% and forecasted two more cuts by mid-2024, citing easing inflation and currency strength. He stressed the forecast is not a promise amid geopolitical uncertainties and noted supply constraints limit high-tech growth more than rates.
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What happened
- 01Bank of Israel cuts interest rate by 0.25% to 3.5%, forecasts two more cuts by Q2 2024.
- 02Governor Yaron links rate cuts to easing inflation and shekel appreciation effects.
- 03Interest rate path is a forecast, not a guarantee, due to geopolitical uncertainties.
- 04Supply constraints, not interest rates, limit high-tech sector growth currently.
- 05Government aid package for high-tech seen as helpful but temporary bridge.
- 06Monetary policy decisions consider inflation, currency strength, and supply factors.
The government’s aid package for high-tech was called a positive but temporary measure.
The coverage
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- Right3
- Haredi2
- ArabNone
- Other2
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