Israeli reserves “well beyond adequacy” – IMF

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Israel’s central bank should stop its foreign exchange interventions once the country’s inflation has reached its target rate, an International Monetary Fund staff report says.  

The IMF staff report, published on January 21, says Israel’s international reserves are “well beyond adequacy metrics and precautionary motives”. Once annual inflation returns to the target band of 1–3%, the Bank of Israel “should cease FX intervention in managing inflation expectations and limit its use to addressing

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