We cannot rule out additional monetary measures today

ISRAEL - Report 24 Feb 2020 by Jonathan Katz

Recent data (BoI Composite Index) suggests that economic growth remains steady and in line with long-term potential. Nevertheless, a declining inflation environment, the strong shekel and elevated global risks will support the doves on the MPC. The market is not expecting a rate cut today, but we think some form of looser monetary policy is possible, including a non-sterilized FX intervention scheme (QE).

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