The Monetary Committee of the Bank of Israel has left the interest rate unchanged at 4.5%, which translates to a 6% prime rate, for more than a year and a half. Israel's situation is unusual globally - there is hardly any country where interest rates have not changed since January 1, 2024. Inflation in Israel, at 3.1%, continues to be higher than the annual target set by the government for 2025, which is 1% to 3%. The latest published index, showing a 0.4% increase in July, did not provide a positive surprise. This did not allow the Monetary Committee of the Bank of Israel to reduce the interest rate.
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