Soft growth in Q2 will not facilitate early tightening

ISRAEL - Report 30 Jul 2018 by Jonathan Katz

Recent economic indicators point to some slowing of growth, especially private consumption. We expect Q218 GDP to reach 2.5%, a low print that could complicate a rate hike decision in the near future. Our inflation forecast has been updated: 0.2% m/m in July, 0.3% in August, -0.2% in September and 1.1% in the NTM.

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