We expect a 0.25% rate hike today

ISRAEL - Report 22 May 2023 by Jonathan Katz

1. We expect a rate hike of 0.25% today, with 4.75% likely to be the terminal rate.

2. Tightening will be supported by higher core inflation, a tight labor market and fairly steady growth (although with growth pessimism).

3. A sharper hike of 0.5% cannot be ruled out, but the MPC will most likely prefer a more cautious approach.

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