Bank of Israel holds policy rate as inflation moderates

Continuation of war in Gaza could drive up inflation, governor says

Israel-Palestine on map

The Bank of Israel’s monetary policy committee held its key interest rate at 4.5% on April 8, as inflation fell to its targeted range.

Inflation slowed to 2.5% in February, from 2.6% in January as the labour market recovered gradually with workers returning from service in the military reserves.

Although within the target range, governor Amir Yaron cautioned that the continuation of the war in Gaza, depreciation of the shekel and difficulties in the construction industry pose risks to inflation.


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