The Bank of Israel left its benchmark interest rate unchanged at 4.5% in its 8th straight such decision
The forum emphasized that a rate cut could help mitigate some of the increased costs that freelancers and business owners are expected to face in 2025.
The report examined some of the nearly 35,000 complaints made to the office between January 2019 and March 2024 – around 30% of which were about service to the public.
The central bank noted that the inflation rate looks to rise in the coming months before easing again in the next year.
Regulatory shaming by the Bank of Israel is a step in the right direction. We can only hope it will lead to real improvement in the conduct of the banks.
Bank of Israel data shows mortgages totaling NIS 8.53 billion were taken in September, the second-highest in two years, with a noted drop in contractor loan volumes compared to previous months.
The economy was supported by gains in consumer and state spending and in investment in fixed assets, while exports fell.
Among considerations discussed when determining the interest rate was that inflation in Israel has been on an upward trend, in contrast to global trends, he said.
"A prolonged war on multiple fronts could weaken economic activity further and heat inflation, raising the risk of stagflation," Barclays economist said.
Amir Yaron, the governor of the Bank of Israel, has worked to stabilize the shekel in the face of the multifront war and international boycotts.
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