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. source: Bank of Israel

Interest Rate in Israel averaged 5.13 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 October 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
2021-07-05 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% 0.1% 0.1% 0.1%
2021-11-22 02:00 PM 0.1%


Related Last Previous Unit Reference
Interest Rate 0.10 0.10 percent Oct/21
Interbank Rate 0.10 0.10 percent Oct/21
Money Supply M1 657051.00 651462.00 ILS Million Sep/21
Money Supply M2 1239960.20 1225628.40 ILS Million Aug/21
Money Supply M3 1631422.00 1625403.00 ILS Million Aug/21
Foreign Exchange Reserves 203990.00 205907000.00 USD Million Sep/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
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 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 Interest Rate
In Israel, the interest rates decisions are taken by the Bank of Israel. The official interest rate is the "headline" rate.