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- August 28, 2024
- 7:09 pm
- Israel
The Bank of Israel has decided not to change the key rate, which will remain at 4.5%. This means that loans for citizens will remain at their current conditions. In July, inflation in the country rose to 3.2%, exceeding the Bank of Israel's target range (1%-3%).
The decision was prompted by concerns about accelerating inflation in Israel, driven by various factors including the aftermath of the war, a weakening local currency and increased government spending. The bank criticized the government for exceeding its 2025 budget.
Meanwhile, the global economy is seeing a decline in key rates. The ECB has already begun to cut interest rates, and the US is likely to follow suit in November. The key rate plays a key role in regulating the economy, influencing lending to individuals and businesses, as well as the level of inflation.
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🌍 This article is also available in UK