Economic recovery will support tapering of asset purchases

ISRAEL - Report 26 Apr 2021 by Jonathan Katz

* Rates remained stable last week, but the policy statement and macro forecast point to a strong recovery.

* The forward guidance statement no longer includes the possibility of “additional tools” or the possibility of zero rates (in the macro forecast).

* Asset purchase tapering will depend on the state of the economy, but appears increasingly likely.

* Strong import growth suggests a robust economic recovery ahead.

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