Bank of Israel cuts benchmark rate to 4.50% from 4.75% ...Middle East

It's the first day of 2024 and the quietest non-weekend day of the year in the FX market but it's not technically closed. With that, the Bank of Israel has set the global theme of the year with a rate cutFirst rate cut since April 2020Sees 2% GDP growth in 2023 and 2024 (unchanged from prior forecast)The war is having significant economic consequencesStaff forecast unchanged at 3.75-4.00% one year outIndicators of economic activity point to a gradual recovery following sharp decline at the start of the war This article was written by Adam Button at www.forexlive.com.

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Bank of Israel cuts benchmark rate to 4.50% from 4.75% ...Middle East

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