Despite the ongoing conflict between Israel and Hamas, the Bank of America (BofA) said Israel is doing pretty well. In its Global Economic Weekly report published Friday, BofA said that Israel’s budget deficit is getting bigger but is still under control. Inflation in Israel is going down, and if there is a ceasefire, inflation could […]
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The impact of a country’s credit rating downgrade on citizens’ wallets begins even before the actual downgrade occurs. Markets, in practice, do not wait for the official downgrade announcement and already demand higher interest rates. This translates to tangible consequences for citizens who are faced with increased borrowing costs and reduced access to affordable loans. […]
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The Board of Governors of the Israel-U.S. Binational Industrial Research and Development (BIRD) Foundation convened on December 19, 2023, to greenlight a transformative investment of $9.6 million for ten pioneering projects bridging the gap between US and Israeli technological prowess. With additional support from the private sector, the total infusion of capital into these ventures […]
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Weeks of attacks by Iranian-backed Houthi militants on vessels in the Red Sea have disrupted shipping in the Suez Canal, the fastest sea route between Asia and Europe carrying 12% of global container traffic. For the European economy, already skirting a mild recession as it tries to shake off high inflation, prolonged disruption would be […]
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According to a CBS report released Monday, in the month of December 2023 the Consumer Price Index (CPI) experienced a modest decline of 0.1%, compared to November 2023, reaching a level of 105.0 points. Both the CPI excluding vegetables and fruits and the CPI excluding energy also decreased by 0.1%, reaching levels of 104.8 and […]
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State Comptroller Netanyahu Engelman declared today that the highly anticipated report addressing the cost of living in Israel has been finalized and is set to be disclosed before the upcoming holiday season. The extensive five-chapter report delves into various facets of the cost of living, encompassing topics such as price monitoring in the food sector, […]
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In a recently published report, Leumi’s chief economist Dr. Gil Michael Bafman, and interest rate strategist, Dodi Reznik, revealed that the Bank of Israel has no plans to further lower the interest rate in 2024. This announcement comes on the heels of the central bank’s decision to decrease the national interest rate by 0.25% last […]
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In a decisive move aimed at bolstering economic growth amid ongoing geopolitical challenges, the Bank of Israel Monetary Committee, led by Governor Prof. Amir Yaron, has announced a 0.25% reduction in the interest rate to 4.5%. This marks the first interest rate cut in Israel since the initial days of the Covid-19 pandemic in March […]
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The Melnick State of the Israeli Economy Index witnessed a decline of 1.4 percent in November 2023, shedding light on the profound impact of the ongoing conflict on economic activities within the business sector. The data underscores a contraction of approximately 2.6 percent in the business sector during the initial two months of the war, […]
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As 2023 draws to a close, the Israeli economy faces the end of a challenging year with anticipation of greater challenges ahead, as the ongoing war against Hamas and regional instability continue to threaten economic stability. For more stories from The Media Line go to themedialine.org Since early 2023, Israel has been embroiled in an […]
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