Will the BoI sell FX in the market?

ISRAEL - Report 07 Oct 2024 by Jonathan Katz

1. We have seen an elevated geopolitical risk vis-à-vis Iran in recent days.

2. This is likely to support a weaker shekel (depending on the level of escalation), in which case we think the BoI is likely to sell FX in the market.

3. Recent private consumption indicators for August point to deceleration, possibly due to the general negative mood.

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