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. source: Bank of Israel

Interest Rate in Israel averaged 5.17 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 September 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. 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 0.25 percent in 2022 and 0.50 percent in 2023, according to our econometric models.

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Israel Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.10 17.00 0.10 1996 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2021-04-19 01:00 PM 0.1% 0.1% 0.1% 0.1%
2021-05-31 01:00 PM 0.1% 0.1% 0.1% 0.1%
2021-07-05 01:00 PM 0.1% 0.1% 0.1% 0.1%
2021-08-23 01:00 PM 0.1% 0.1% 0.1% 0.1%
2021-10-07 01:00 PM 0.1%
2021-11-22 02:00 PM
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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 Keeps Rates Steady at 0.1%
The Bank of Israel held its benchmark interest rate at 0.1% for a tenth straight policy meeting on July 5th of 2021, in line with expectations. Policymakers noted the economy is almost completely open, and as of now, there are not material restrictions on economic activity although the spread of the coronavirus “Delta Variant” poses risks to the continued recovery of the economy.
2021-07-05
Israel Keeps Rates Steady at 0.1%
The Bank of Israel held its benchmark interest rate at 0.1% for a ninth straight policy meeting on May 31st of 2021, citing a rapid economic recovery following a quick COVID-19 vaccine rollout. The central bank added that inflation is on the rise and expectations for the coming year continued to increase, but are within the inflation target range. The economy contracted an annualised 6.5% in the first quarter from the prior three months, but 2021 growth is expected to reach 4-6%. Meanwhile, policymakers added that the deterioration in the security situation that lasted approximately 10 days apparently had only a limited negative impact.
2021-05-31
Israel Interest Rate Unchanged at 0.1%
The central bank of Israel left its benchmark interest rate unchanged at 0.1 percent on March 19th 2021, in line with forecasts. Policymakers noted the rapid vaccine-led economic recovery, with activity at its highest since the onset of the pandemic, while mortality rates took a sharp downturn. The economy jumped an annualized 6.5 percent in Q4 of 2020, a final estimate showed. Inflation in Israel rose above the flatline in March to 0.2 percent, the first time in a year, while the Governor sees inflation to reach the 1-3 percent target by May. The bank added the unemployment rate fell to 12.0 percent during the first half of March and forecasts a 7.5 percent jobless rate by the end of the year. The Research Department’s forecast outlines that in the rapid inoculation scenario, GDP is expected to grow by 6.3 percent in 2021, and by 5.0 percent in 2022.
2021-04-19

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