Bank of Israel firmly on hold next week, possibly until 2025: Reuters poll
JERUSALEM - The Bank of Israel will hold the line on short-term interest rates for a fourth straight meeting next week and perhaps until 2025 because of the war in Gaza, sticky inflation and a widening risk premium, a Reuters poll showed.
"Persisting inflation pressures, geopolitical risks, currency weakness and fiscal expansion provide no room for the BOI to ease," said Morgan Stanley economist Alina Slyusarchuk.The monetary policy committee in January reduced its key rate by 25 basis points, which followed 10 straight rate hikes in an aggressive tightening cycle from an all-time low of 0.1% in April 2022, before a pause last July.
The budget deficit - on the heels of higher defence costs - has surged to 7.2% of gross domestic product, above a 2024 target of 6.6%.
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