Markets will react to the rate decision bias

ISRAEL - Report 03 Apr 2023 by Jonathan Katz

1. We expect a rate hike of 0.25% today due to sticky inflation, a generally resilient economy and a fairly tight labor market.

2. With the shekel retreating from its peak of 3.70/USD on the judicial overhaul postponement, a 0.5% hike appears less likely.

3. Markets will follow closely the BoI macro forecast (for rates especially) as well as the Governor’s press conference.

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