Israel holds rates amid fears war could escalate

Bank of Israel raises interest rate forecast for next year

Israel-Palestine on map

Israel’s central bank held its policy rate at 4.5% today (July 8),warning of the effects of the country’s current war and a possible future conflict.

“The monetary policy is focused on stabilising and reducing the uncertainty in the markets,” governor Amir Yaron said. This is the fourth consecutive time the BoI has held rates, after cutting by 25 basis points in January.

The Bank of Israel’s research department said it assumes that the conflict with the Hamas group in Gaza will “last at a higher

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