Market volatility in reaction to judicial legislation

ISRAEL - Report 31 Jul 2023 by Jonathan Katz

1. The shekel weakened by over 2% last week due to the judicial legislation that is weakening the power of the Supreme Court.

2. This will impact inflation and could support further monetary tightening.

3. We expect GDP growth to slow next year, to 1.8% from 3.4% this year.

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