The Bank of Israel held its benchmark interest rate at a record low of 0.1% for a 13th straight policy meeting on November 22nd of 2021, in line with market expectations, citing uncertainty regarding economic activity in the medium term as the Covid-19 pandemic is still around. The Israeli economy grew an annual 2.4% in the third quarter over the last quarter, helped by a COVID-19 vaccination roll-out in which 44% of the population have received a booster shot and the country largely free of virus-related restrictions. Meanwhile, the annual inflation rate slowed to 2.3% in October from an 8-year high of 2.5%, still remaining above the midpoint of the government’s 1%-3% annual target range. Policymakers mentioned that the only interest rate increases worldwide have been in countries where inflation deviated markedly from their targets, while inflation expectations in Israel are within their target range. source: Bank of Israel

Interest Rate in Israel averaged 5.12 percent from 1996 until 2021, reaching an all time high of 17 percent in June of 1996 and a record low of 0.10 percent in March of 2015. This page provides - Israel Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Israel Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

Interest Rate in Israel is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Israel Interest Rate is projected to trend around 0.25 percent in 2022 and 0.50 percent in 2023, according to our econometric models.

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Israel Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-23 01:00 PM 0.1% 0.1% 0.1% 0.1%
2021-10-07 01:00 PM 0.1% 0.1% 0.1% 0.1%
2021-11-22 02:00 PM 0.1% 0.1% 0.1% 0.1%


Related Last Previous Unit Reference
Interest Rate 0.10 0.10 percent Nov/21
Interbank Rate 0.10 0.10 percent Dec/21
Money Supply M1 659405.00 657051.00 ILS Million Oct/21
Money Supply M2 1257625.90 1239960.20 ILS Million Sep/21
Money Supply M3 1665293.00 1631422.00 ILS Million Sep/21
Foreign Exchange Reserves 208769.00 207473000.00 USD Million Nov/21
Banks Balance Sheet 2083162.00 2062575.00 NIS Million Aug/21
Central Bank Balance Sheet 780620.00 769082.00 NIS Million Aug/21
Loans To Private Sector 607.34 605.56 ILS Billion May/18

News Stream
Israel Keeps Rates Steady at 0.1%
The Bank of Israel held its benchmark interest rate at a record low of 0.1% for a 13th straight policy meeting on November 22nd of 2021, in line with market expectations, citing uncertainty regarding economic activity in the medium term as the Covid-19 pandemic is still around. The Israeli economy grew an annual 2.4% in the third quarter over the last quarter, helped by a COVID-19 vaccination roll-out in which 44% of the population have received a booster shot and the country largely free of virus-related restrictions. Meanwhile, the annual inflation rate slowed to 2.3% in October from an 8-year high of 2.5%, still remaining above the midpoint of the government’s 1%-3% annual target range. Policymakers mentioned that the only interest rate increases worldwide have been in countries where inflation deviated markedly from their targets, while inflation expectations in Israel are within their target range.
2021-11-22
Bank of Israel Holds Key Policy Rate at 0.1%
The Bank of Israel held its benchmark interest rate at a record low of 0.1% for a 12th straight policy meeting on October 7th of 2021, in line with expectations, amid an improving economic outlook and rising inflation. The Israeli economy grew an annual 16.6% in the second quarter over the last quarter, helped by nearly full opening of the economy; and it expected to expand by 7% in 2021 (vs July's estimate of 5.5%) and 5.5% in 2022 (vs earlier 6%). Meanwhile, the annual inflation rate rose to 2.2% in August, above the midpoint of the government’s 1%-3% annual target range. The inflation rate is now seen at 2.5% this year (vs previous estimate of 1.7%), easing back to 1.6% in 2022. Policymakers also added that it would end its bond buying stimulus programme by early December and suggested it could raise rates in 2022, amid rising inflation and a continued rebound in the economy.
2021-10-07
Israel Leaves Monetary Policy Unchanged at 0.1%
The Bank of Israel held its benchmark interest rate at 0.1% for an 11th straight policy meeting on August 23rd of 2021, in line with expectations, citing high uncertainty on the economic outlook due to the increased health risks both at home and abroad. The Israeli economy grew an annualised 15.4% in the second quarter helped by the rapid COVID-19 vaccination and the removal of major restrictions on economic activity, but the Delta strain has led to a spike in infections. Policymakers also noted that annual Inflation rate rose to 1.9% in July, near the midpoint of the government's 1%-3% annual target range, from 1.7% in June; with inflation expectations for the coming year around 2%. The monetary policy committee said that will therefore continue a very accommodative monetary policy for a prolonged time.
2021-08-23

Israel Interest Rate
In Israel, the interest rates decisions are taken by the Bank of Israel. The official interest rate is the "headline" rate.