Rate hold decision today on new forward guidance aiming for 2% inflation

ISRAEL - Report 25 Feb 2019 by Jonathan Katz

Recent economic indicators point to steady growth near potential (3%) at end-2018. Nevertheless, some slack in the labor market and the sharp decline in the PMI point to softer growth ahead. We expect a rate hold decision today, on the new forward guidance aiming for 2% inflation. Foreigners were strong net FX sellers in the past few months, while domestic players purchased FX.

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