Robust CA surplus and FDI remain shekel supportive

ISRAEL - Report 23 Dec 2024 by Jonathan Katz

1. Both the current account surplus and FDI remained robust in Q3, supportive of the shekel.

2. Residential investments increased in Q3, but completions are still below the current demand.

3. We maintain our forecast of 2.4% inflation NTM (lower end of consensus), and three rate cuts in 2025.

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