ISRAEL

WANT IN-COUNTRY EXPERTISE TO HELP NAVIGATE AN EMERGING MARKET?

Country Analysts

Jonathan Katz
Former Chief Economist, Finance Ministry Budget Department

Recent Country Insights

Gsp report report thumbnail
The shekel weakens on market volatility
ISRAEL - Report 29 Nov 2021
Highlights: The Governor stresses lower for longer * The MPC emphasized that inflation in Israel is lower than in most countries and within target, allowing for patience regarding tightening. The MPC stressed the downside risks of another Covid wave, which appears more of a real possibil...

Gsp in brief thumbnail
The shekel weakens on market volatility; the Governor stressed low rates for longer
ISRAEL - In Brief 28 Nov 2021
Highlights of the weekly macro review:The Governor stresses low for longer The MPC emphasized that inflation in Israel is lower than in most countries and within target, allowing for patience regarding tightening. The MPC stressed the downside risks of another Covid wave, which appears more of a ...

Gsp in brief thumbnail
Rates on hold, FX intervention dependent on the state of the economy
ISRAEL - In Brief 22 Nov 2021
There were no surprises in the rate hold decision. The statement noted that those countries which hiked have inflation above target. In Israel market expectations are at the high end of target (but within) and forecasters and the BoI model expect lower inflation in the next 12 months. Regarding F...

Gsp report report thumbnail
Shekel appreciation continues; expected to moderate inflation
ISRAEL - Report 22 Nov 2021
GDP growth is expected to reach close to 6.5% this year and 4.8% in 2022; the output gap will narrow but will still remain somewhat disinflationary. Inflation is expected to reach 1.5% NTM, as a strong shekel offsets (in part) other inflationary factors. We do not expect a rate change today; the ...

Gsp in brief thumbnail
Shekel appreciation continues; expected to moderate inflation
ISRAEL - In Brief 21 Nov 2021
GDP data in Q3 was “decent” GDP growth reached 2.4%, but was up 3.5% excluding taxes on imports. Private consumption excluding durables increased by 5.1%. Investments improved, both residential and non-residential. Exports disappointed Annual GDP growth in 2021 will mostly come in closer to 6.5% ...

Gsp in brief thumbnail
October’s CPI surprises sharply on the downside
ISRAEL - In Brief 15 Nov 2021
October’s CPI increased by 0.1% m/m (consensus expected 0.4%), and declined to 2.3% y/y from 2.5% last month. The main surprise came from the “travel abroad” item (3.7% of the basket) which declined by 7.9% contributing -0.3% to October’s print. This is rather surprising considering restrictions ...

Gsp report report thumbnail
The fiscal deficit is expected to undershoot in 2022, supporting low issuance
ISRAEL - Report 15 Nov 2021
Highlights: The fiscal deficit declines sharply: - In the last 12 months through October the fiscal deficit declined to 5.5% GDP from 11.9% in March. - Tax revenues in January-October 2021 are up 19% in real terms compared to two years ago (pre-Covid). - We expect a fiscal ...

Gsp in brief thumbnail
The fiscal deficit is expected to undershoot in 2022, supporting low issuance
ISRAEL - In Brief 14 Nov 2021
The fiscal deficit declines sharply In the last 12 months through October the fiscal deficit declined to 5.5% GDP from 11.9% in March. Tax revenues in January-October 21 are up 19% in real terms compared to two years ago (pre-Covid). We expect a fiscal deficit this year of 4.7% GDP, below the off...

Gsp in brief thumbnail
Fiscal deficit declines sharply
ISRAEL - In Brief 08 Nov 2021
Positive fiscal numbers in October The fiscal budget in October reflects a fiscal surplus of 4.4bn, compared to a deficit of 20.4bn last year. The cumulative fiscal deficit LTM declined to 5.5% GDP from 7.2% last month and 11.9% in March. Revenues continue to surprise on the upside due to strong ...

Cookies help us deliver our services. By using our services, you agree to our use of cookies.