Bank of Israel

Bank of Israel head urges lenders to pay fair interest on deposits, current accounts

Central bank chief instructs banks to fully pass on interest rates to deposit holders and come up with a plan to pay interest on the billions of shekels sitting in current accounts

June 20, 2023, 5:08 pm

Bank of Israel head urges lenders to pay fair interest on deposits, current accounts

Central bank chief instructs banks to fully pass on interest rates to deposit holders and come up with a plan to pay interest on the billions of shekels sitting in current accounts

By Sharon Wrobel

Heritage Minister Amichai Eliyahu arrives at a meeting at the Prime Minister's Office in Jerusalem on January 29, 2023. (Yonatan Sindel/Flash90)

June 18, 2023, 11:32 am

Far-right minister calls Bank of Israel governor a ‘savage’; Netanyahu condemns

Heritage Minister Amichai Eliyahu receives wide criticism for comments accusing Amir Yaron of ‘sullying Israel’s name abroad and harming the credit rating’

By ToI Staff

A man shops for groceries at a Rami Levy supermarket in Jerusalem on February 3, 2022. (Yonatan Sindel/Flash90)

June 15, 2023, 9:48 pm

Israeli inflation lower than forecast in May, boosting odds of rate hike pause

Consumer price index surprises with lower-than-expected monthly figure of 0.2% versus analysts’ expectations of 0.5%-0.6%

By Sharon Wrobel

June 6, 2023, 3:17 pm

Bank of Israel veteran selected as new banking supervisor

Daniel Hahiashvili will replace Yari Avidan on June 22; sees his role as ensuring stability of banks while boosting competition and technological innovation

By Sharon Wrobel

Finance Minister Bezalel Smotrich speaks at the Israel Democracy Institute (IDI) conference in Jerusalem, May 30, 2023. (Michal Fattal)

May 30, 2023, 7:54 pm

Smotrich seeks to tax banks’ fat profits from steady interest rate hikes

Bank of Israel head urges local banks to improve services by actively offering interest-bearing deposits to their customers; hints at further rate increases

By Sharon Wrobel

Bank of Israel Governor Amir Yaron speaks during a press conference at the Bank of Israel in Jerusalem, January 2, 2023. (Yonatan Sindel/Flash90)

May 22, 2023, 7:15 pm

As inflation persists, Bank of Israel hikes interest rates for 10th time, to 4.75%

Central bank lifts borrowing costs by 25 basis points, citing inflation above 5% and a tight labor market; sees signs of moderation in economic activity

By Sharon Wrobel

UTJ MK and Deputy Knesset Speaker Yisrael Eichler (right) during a vote in the Knesset, in Jerusalem, on December 28, 2022. (Olivier Fitoussi/Flash90)

May 22, 2023, 12:33 pm

UTJ MK: ‘The government is not in our hands,’ Bank of Israel chief should quit

Yisrael Eichler says government power rests in hands of deep state and bureaucrats, who he compares to Russia’s Putin; blasts failure of interest rate hikes to bring down inflation

By ToI Staff

A shopping cart at the Rami Levy supermarket in Modiin on July 21, 2022. (Yossi Aloni/Flash90)

May 15, 2023, 10:02 pm

Israel consumer price index surprises with higher-than-expected April figure up 0.8%

Rise of almost double the forecast sets up Bank of Israel for another interest rate hike next week, as central bank battles inflationary pressure, economists say

By Sharon Wrobel

IMF staff mission to Israel led by Miguel Segoviano presents initial country report to Bank of Israel governor Amir Yaron and Finance Minister Bezalel Smotrich, May 10, 2023. (Finance Ministry Spokesperson's Office)

May 11, 2023, 12:02 am

IMF says uncertainty over judicial overhaul poses ‘risks’ to Israeli economy

IMF cuts 2023 growth outlook, noting judicial uncertainty could lead to severe financial conditions, hamper investment and consumption; S&P set to affirm credit rating outlook

By Sharon Wrobel

Foreign Minister Eli Cohen at a ceremony in the Ministry of Foreign Affairs in Jerusalem, January 2, 2023. (Olivier Fitoussi/ Flash90)

April 24, 2023, 5:23 am

Foreign minister lauds expansion of Israeli diplomatic clout into Eurasia region

In ToI interview, Eli Cohen talks up Israel’s recent diplomatic achievements, defends Azerbaijan arms sales, and says he wants another year in office despite deal with Israel Katz

By Tal Schneider

New buildings going up in Beer Yaakov on March 26, 2020. (Flash90)

April 14, 2023, 9:58 pm

Home prices slide for first time in years, but inflation remains steady

Central Bureau of Statistics says consumer price index rose by 0.4% in March over the previous month, but sees real estate costs dropping 0.2% as interest rates go up

By ToI Staff

The new 100 Israeli Shekel bill, December 31, 2017. (Nati Shohat/Flash90)

April 12, 2023, 6:57 pm

Shekel continues to decline, hits two-year low against the euro

Currency currently trading at 3.68 to the dollar and 4.02 to the euro, ahead of Moody’s country credit rating update on Friday

By ToI Staff

Diaspora Affairs Minister Amichai Chikli, seen during a discussion and a vote in the assembly hall of the Knesset, in Jerusalem, on March 6, 2023. (Yonatan Sindel/Flash90)

April 4, 2023, 5:00 pm

Cabinet minister: Bank of Israel chief sabotaging economy with overhaul criticism

Amichai Chikli accuses Amir Yaron of putting politics first by giving foreign press gloomy predictions about government’s plans

By ToI Staff

Bank of Israel Governor Amir Yaron attends a cabinet meeting at the Prime Minister's Office in Jerusalem, on February 23, 2023. (RONEN ZVULUN / POOL / AFP)

April 3, 2023, 7:34 pm

Bank of Israel hikes rate to 4.5%, warns judicial shakeup could badly harm economy

Central bank lifts rates by 0.25%, smallest rise since April; in its pessimistic scenario, potential impact of overhaul could be $14-billion annual hit to GDP over next 3 years

By Sharon Wrobel

Bank of Israel Governor Amir Yaron arrives at a cabinet meeting on the state budget at the Prime Minister's Office in Jerusalem, February 23, 2023. (Alex Kolomoisky/POOL)

March 28, 2023, 1:28 pm

Bank of Israel head issues new warning on overhaul, says bodies’ independence vital

In letter to cabinet alongside central bank’s annual report for 2022, Amir Yaron writes that major changes must be done with broad agreement, preserve institutions’ professionality

By ToI Staff