Tag: Bank of Israel
Bank of Israel cuts interest rate for first time since 2022
The Bank of Israel decided on Monday to lower its benchmark interest rate by 0.25 percentage points to 4.5%, in the first such cut since April 2022.
"The war is having significant economic consequences, both...
Bank of Israel ups interest rate for 10th time
The Bank of Israel on Monday raised its benchmark interest rate for the 10th consecutive meeting amid rising inflation and low unemployment.
The central bank’s Governor Amir Yaron announced the benchmark rate increase of 25 basis points (0.25 percentage...
Unemployment rate in Jewish state hits 50-year low
The unemployment rate in Israel dropped to 2.9% in the first half of April from 3.7% in March.
According to a report in the Israeli business daily Globes, the Central Bureau of Statistics reports a 50-year-low...
Shekel weakens as Russia-Ukraine crisis intensifies
The Israeli shekel weakened on Tuesday as investors sought safe-haven currencies, particularly against the U.S. dollar, as the Russian-Ukraine crisis intensifies, according to Globes.
“The shekel is weakening against the dollar after reports that Russian troops...
US dollar hits 25-year low against Israeli shekel
The U.S. dollar hit a 25-year low against the shekel on Tuesday, officially dropping below the benchmark that the Bank of Israel had hoped to avoid crossing. The euro also dropped sharply against the...
‘Hackathon’ seeks solutions to speed up international money transfers
The Bank of Israel’s Payment and Settlement Systems Department is urging those with expertise on international money transfers to join a global hackathon on the use of an advanced system for payments.
The goal is...
Bank of Israel Governor urges government to pass budget, prevent new elections
Bank of Israel Governor Amir Yaron has called on the government to pass the national budget as soon as possible to stave off another round of Knesset elections as the country grapples with the...
Israeli Finance Ministry report: Economy unlikely to reach pre-pandemic growth until 2025
Israel’s Finance Ministry assesses in a new report that it could take the economy until 2025 to return to its pre-pandemic unemployment rates and growth statistics.
According to the report, released on Sunday by Channel 13,...
Bank of Israel: Economic shutdown due to coronavirus could eat 10 percent of GPD
The shutdown of Israel’s economy due to the coronavirus pandemic will come at a cost of up to NIS 130 billion ($36 billion), which is 10 percent of the nation’s GDP, Israel’s Finance Ministry...