net_left adver left

Bank of Israel raises key rate, seeks fiscal restraint from new govt

Tuesday, January 3, 2023
Bank of Israel raises key rate, seeks fiscal restraint from new govt © Reuters. FILE PHOTO: The Bank of Israel building is seen in Jerusalem June 16, 2020. REUTERS/Ronen Zvulun

By Steven Scheer and Ari Rabinovitch

JERUSALEM (Reuters) -The Bank of Israel raised its benchmark interest rate by half a point on Monday, and will likely continue its increases a bit more in coming months, saying it seeks to curb inflation running above 5%.

The central bank as expected lifted its key rate to a 14-year high of 3.75% from 3.25%. In April, policymakers began raising the rate from 0.1% and have been aggressive during a front-loading process, but most analysts believe the tightening cycle is close to over.

Bank of Israel Governor Amir Yaron said monetary policy was already "restrictive" but expressed concerns over inflation, even though it is lower than in much of the West. The labour market is tight and the new government is set to spend heavily to meet coalition agreements.

While the central bank's own economists project the key rate at 4% in a year's time - meaning there would be just one more quarter-point hike - Yaron could not commit to that peak.

Speaking to reporters, he said the pace of hikes would continue to be data dependent. "We won't hesitate to raise rates further," Yaron said, adding he expects inflation to start easing in the second quarter. "I believe that interest rates in general will have to remain at a high level."

Despite the rate hikes, Israel's annual inflation rose to a 14-year high of 5.3% in November from 5.1% in October - well above the government's 1%-3% annual target range and fuelling public anger at spiking living costs.

The central bank's staff sees inflation at 3% in a year, easing to 2% in 2024.

"We are determined to reduce the inflation rate and to return it to within the target range," Yaron said.

A new government led by Benjamin Netanyahu, whose coalition partners have made hefty budget demands, took office this week. Yaron cautioned against a spike in the deficit and debt burden.

"It is important that the new government acts with the necessary responsibility with regard to fiscal policy" and on public sector wage agreements, he said. "It is important to remember that the Israeli economy cannot take for granted the high regard from the rating entities and international financial institutions."

Israel's economy grew an annualised 1.9% in the third quarter from the second quarter, slower than a 7.4% pace the prior three months.

Growth is expected at 2.8% in 2023, revised down from 3%, and 3.5% in 2024, according to the Bank of Israel's updated forecast.

Leave your comment
HOT AUTO TRADE BOT SOFTWARE adver right
APPROVED BROKERS
net_home_top HOT AUTO TRADE BOT SOFTWARE
23-03-2023 22:27:31 (UTC+7)

EUR/USD

1.0906

+0.0051 (+0.47%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

EUR/USD

1.0906

+0.0051 (+0.47%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

GBP/USD

1.2327

+0.0063 (+0.51%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (0)

USD/JPY

131.13

-0.32 (-0.24%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

AUD/USD

0.6722

+0.0040 (+0.59%)

Summary

Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (5)

Sell (0)

USD/CAD

1.3640

-0.0088 (-0.64%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (5)

EUR/JPY

142.99

+0.32 (+0.22%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

EUR/CHF

0.9963

+0.0006 (+0.06%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (10)

Sell (0)

Gold Futures

1,988.95

+39.35 (+2.02%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

Silver Futures

23.260

+0.474 (+2.08%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (11)

Sell (0)

Copper Futures

4.1098

+0.0653 (+1.61%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (11)

Sell (0)

Crude Oil WTI Futures

71.47

+0.57 (+0.80%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

Brent Oil Futures

77.28

+0.59 (+0.77%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

Natural Gas Futures

2.238

+0.067 (+3.09%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (5)

US Coffee C Futures

174.73

-3.27 (-1.84%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (2)

Sell (6)

Euro Stoxx 50

4,210.25

+14.55 (+0.35%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (2)

S&P 500

3,996.24

+59.27 (+1.51%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (8)

DAX

15,226.55

+10.36 (+0.07%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (6)

FTSE 100

7,529.18

-37.66 (-0.50%)

Summary

↑ Buy

Moving Avg:

Buy (11)

Sell (1)

Indicators:

Buy (6)

Sell (0)

Hang Seng

20,049.64

+458.21 (+2.34%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (1)

US Small Cap 2000

1,766.00

+32.66 (+1.88%)

Summary

Neutral

Moving Avg:

Buy (7)

Sell (5)

Indicators:

Buy (1)

Sell (8)

IBEX 35

8,993.53

-15.77 (-0.18%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

BASF SE NA O.N.

46.575

+0.015 (+0.03%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Bayer AG NA

56.13

-0.50 (-0.88%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (1)

Allianz SE VNA O.N.

207.43

-0.67 (-0.32%)

Summary

Neutral

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (3)

Sell (5)

Adidas AG

142.25

+1.25 (+0.89%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

Sell (7)

Deutsche Lufthansa AG

9.899

+0.021 (+0.21%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

Siemens AG Class N

145.01

+0.07 (+0.05%)

Summary

↑ Buy

Moving Avg:

Buy (9)

Sell (3)

Indicators:

Buy (8)

Sell (0)

Deutsche Bank AG

9.435

-0.208 (-2.16%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (6)

 EUR/USD1.0906↑ Buy
 GBP/USD1.2327↑ Buy
 USD/JPY131.13↑ Sell
 AUD/USD0.6722Buy
 USD/CAD1.3640↑ Sell
 EUR/JPY142.99Neutral
 EUR/CHF0.9963↑ Buy
 Gold1,988.95↑ Buy
 Silver23.260↑ Buy
 Copper4.1098↑ Buy
 Crude Oil WTI71.47Sell
 Brent Oil77.28Sell
 Natural Gas2.238Neutral
 US Coffee C174.73↑ Sell
 Euro Stoxx 504,210.25↑ Buy
 S&P 5003,996.24↑ Sell
 DAX15,226.55↑ Sell
 FTSE 1007,529.18↑ Buy
 Hang Seng20,049.64↑ Buy
 Small Cap 20001,766.00Neutral
 IBEX 358,993.53↑ Sell
 BASF46.575Sell
 Bayer56.13Buy
 Allianz207.43Neutral
 Adidas142.25Sell
 Lufthansa9.899↑ Sell
 Siemens AG145.01↑ Buy
 Deutsche Bank AG9.435↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank6,660/ 6,710
(10/ 10) # 1,070
SJC HCM6,655/ 6,725
(10/ 10) # 1,085
SJC Hanoi6,655/ 6,727
(10/ 10) # 1,087
SJC Danang6,655/ 6,727
(10/ 10) # 1,087
SJC Nhatrang6,655/ 6,727
(10/ 10) # 1,087
SJC Cantho6,655/ 6,727
(10/ 10) # 1,087
Cập nhật 23-03-2023 22:27:33
Xem lịch sử giá vàng SJC: nhấn đây!
ↀ Giá vàng thế giới
$1,984.40+14.630.74%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-V23.96024.430
RON 95-III23.03023.490
E5 RON 92-II22.02022.460
DO 0.05S19.30019.680
DO 0,001S-V20.56020.970
Dầu hỏa 2-K19.46019.840
ↂ Giá dầu thô thế giới
WTI$71.49-1.33-1.90%
Brent$76.92-1.42-1.88%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD23.300,0023.670,00
EUR25.009,8726.410,24
GBP28.229,1229.432,78
JPY174,87185,12
KRW15,8919,36
Cập nhật lúc 18:50:17 23/03/2023
Xem bảng tỷ giá hối đoái
adver main right