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Bank of Israel Keep Rates Unchanged, Sees Current Rates as Sufficiently Restrictive

ISRAEL
  • Bank of Israel keep rates unchanged at 4.75%, alongside expectations.
  • The bank's staff forecasts upgrade their growth view for this year, but downgrade for the following year (2023 to 3.0% from 2.5% prior, 2024 to 3.0% from 3.5% prior).
  • Staff forecasts see benchmark rate expectation at 4.75-5.00% (Prev. 4.75%)
  • Governor Yaron says the policy committee decided not to increase rates at this time in light of existing data and the current forecast round. As such, they concluded that current rate levels are sufficiently restrictive.

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