Inflation remains sticky and broad based

ISRAEL - Report 20 Mar 2023 by Jonathan Katz

1. Inflation in February surprised on the upside and remains both sticky and broad-based.

2. Most macro factors support weaker inflationary pressure going forward, except for the likelihood of further shekel weakness.

3. At this stage, we expect a 0.5% rate hike on April 3, as the BoI is likely to diverge from Fed policy.

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