Despite the weakening shekel, inflation to remain subdued

ISRAEL - Report 16 Mar 2020 by Jonathan Katz

Inflation in February declined by 0.1% m/m and moderated to 0.1% y/y. The Bank of Israel announced a vague plan of QE by buying government bonds. We expect details to follow, as well as a rate cut. We expect the economy to contract in the coming quarter or two, with many sectors coming to a standstill. The coronavirus may facilitate a unity government.

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