The central bank of Israel left its key interest rate steady at 0.1 percent on July 6th 2020, in line with market expectations but decided to add new monetary policy tools to support the economic recovery amid an increase in the number of new COVID-19 cases in recent weeks and assure the continued orderly functioning of the financial markets. The central bank launched for the first time an ILS 15 billion program for purchasing corporate bonds in the secondary market; renewed the program which increases the supply of credit to small and micro businesses; and created an infrastructure for increasing the variety of assets that the banks can provide as collateral against this program.
Interest Rate in Israel averaged 5.31 percent from 1996 until 2020, 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 August of 2020.
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. Looking forward, we estimate Interest Rate in Israel to stand at 0.10 in 12 months time. In the long-term, the Israel Interest Rate is projected to trend around 0.50 percent in 2021 and 0.75 percent in 2022, according to our econometric models.