We expect a rate hike on April 11

ISRAEL - Report 18 Jan 2022 by Jonathan Katz

1. December’s CPI surprised on the upside as core inflation accelerated to 2.7% y/y.

2. We expect inflation to reach 1.7% this year on the back of wage pressure and higher rental prices, partially offset by shekel appreciation.

3. We expect the BoI to hike on April 11 due to high inflation and inflation expectations, as well as a rapidly improving labor market.

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