According to BoI research, shekel appreciation is expected to slow inflation

ISRAEL - Report 04 Mar 2019 by Jonathan Katz

Recent PC indicators point to some deceleration, supportive of weak inflationary pressure. Policy rates will remain stable at 0.25% as the MPC aims to push inflation towards 2%. Despite steady growth in Israel at its potential growth rate, the MPC sees global downside risks. A BoI research paper sees a strong FX pass-through of 24% on inflation in cases of shekel appreciation, a conclusion which supports low inflation this year.

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