MPC leans towards a rate cut, but much will depend on inflation

ISRAEL - Report 28 Oct 2019 by Jonathan Katz

Two out of five MPC members voted for a rate cut on October 7, and two more envisioned the possible need for loosening in the future. A rate cut is possible on November 25, but could be delayed to Q1 2020 if October's CPI surprises on the upside (as we expect). Labor data is pointing to weaker demand for new workers, which supports weaker wage/inflationary pressure. In politics, Gantz (Blue and White) has 21 days left to try to form a government and is trying for a broad coalition, but may have to consider a narrow coalition.

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