The bond market will react to the BoI macro forecast for 2019-2020

ISRAEL - Report 07 Jan 2019 by Jonathan Katz

GDP growth in 2018 reached 3.2% on fairly balanced growth, but slowing from 2017, and expected to reach 2.8% in 2019. We expect a rate hold decision today but the tone of the announcement will shed some light on the new Governor's bias. More important will be the BoI macro forecast, which is likely to include two hikes in 2019 and two more in 2020.

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