Weekly Macro-Economic review

ISRAEL - Report 18 Jun 2018 by Jonathan Katz

Inflation in May was in line with consensus, but the acceleration of housing rental prices poses a risk for higher inflation. External fundamentals are less shekel positive than in the past, with the CA surplus reaching 2.2% GDP in Q118, down from 3% in 2017. We expect inflation to reach 1% NTM, with the first rate hike expected in Q119.

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