The Bank of Israel increased its key interest rate to 0.75% from 0.35% on May 23rd, 2022, the second-rate hike since 2018 and above market forecasts of 0.6%. Policymakers noted that the Israeli economy is recording strong growth, accompanied by a tight labour market and a continued increase in the inflation environment. The Committee has therefore decided to continue the gradual process of increasing the interest rate, although the pace of rate-hike will be determined in accordance with activity data and the development of inflation. Meanwhile, inflation in Israel is exceeding the upper bound of the target range, at 4 percent over the past 12 months, significantly lower than in most advanced economies. Looking forward, the central bank sees one-year inflation expectations around the upper bound of the target range while longer-term expectations to remain anchored within the target range. source: Bank of Israel
Interest Rate in Israel averaged 5.04 percent from 1996 until 2022, 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 July of 2022.
Interest Rate in Israel is expected to be 0.75 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 1.00 percent in 2023 and 0.75 percent in 2024, according to our econometric models.