The Central Bank of Israel kept its policy interest rate on hold today (April 8) as it focused on rising inflation expectations. After the war in Gaza the Israeli economy shook and defense spending increased.
The Bank of Israel has decided to keep the policy interest rate at 4.5% for the second time in a row.
The Israeli shekel strengthened further after the Bank of Israel announced its policy to freeze interest rates today. The shekel rose 2.4% to 3.68 shekels per US dollar at 8:20 pm today, Thai time. This is likely to be the biggest daily increase this year. Weakened in the last week. after Iran threatened retaliation for Israel’s attack on the Iranian consulate in Damascus, Syria on April 1.
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