Another downside inflation print; a rate cut is on the table

ISRAEL - Report 16 Feb 2024 by Jonathan Katz

1. Inflation in January (0.0% m/m, 2.6% y/y, down from 3.0%) was at the low end of expectations; presently, we give a rate cut at the upcoming meeting a 55% probability.

2. Economic indicators were generally positive last week.

3. The trade deficit declined sharply in January as exports have stabilized while imports continue to decline, in part due to shipping disruptions.

Now read on...

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