Markets will watch closely the revised BoI policy rate forecast

ISRAEL - Report 07 Oct 2019 by Jonathan Katz

We expect a rate hold decision today, with the dovish forward guidance maintained. More important will be the revised BoI policy rate forecast, likely to reflect rate stability through Q320 (with one hike in Q420).

Wage pressure (up 3.8% y/y) continues on a tight labor market. The adjusted fiscal deficit reached 3.8% GDP in the last 12 months through September. The political stalemate continues, with no viable coalition presently on the horizon.

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