The shekel weakens on market volatility

ISRAEL - Report 09 May 2022 by Jonathan Katz

* The shekel weakened last week on the back of the downward market correction.

* We have revised our inflation forecast upwards, as we no longer expect shekel appreciation this year.

* Growth indicators remain positive, the labor market continues to tighten and wage growth in the private sector has accelerated.

* We currently expect rates to increase by 0.4% on March 23 and reach 2% one year from now.

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