The shekel continues to appreciate sharply

ISRAEL - Report 20 Nov 2023 by Jonathan Katz

1. The shekel continued to appreciate sharply last week, fueling expectations for a possible rate cut next week.

2. Inflation moderated in October, especially housing rental prices and services, a trend that is likely to continue.

3. Real-time data point to an increase in private consumption in the past week, but which nevertheless remains below the level of pre-hostilities.

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