The central bank of Israel left its benchmark interest rate unchanged at 0.1 percent on January 4th 2021, saying the fast pace of the inoculation process in Israel increases the optimism regarding a rapid return of the economy to a path of growth in the coming year. The Research Department’s forecast outlines that in the rapid inoculation scenario, GDP is expected to grow by 6.3 percent in 2021, and by 5.8 percent in 2022. However, the risks to economic activity remain high, and the adverse impact on the economy, and particularly on the labor market, is expected to be prolonged. The Committee will therefore continue to utilize a range of tools in order to increase the extent of the monetary policy accommodation and to ensure the continued orderly functioning of the financial markets. source: Bank of Israel

Interest Rate in Israel averaged 5.23 percent from 1996 until 2021, reaching an all time high of 17 percent in June of 1996 and a record low of 0.10 percent in March of 2015. This page provides - Israel Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Israel Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2021.

Interest Rate in Israel is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Israel to stand at 0.10 in 12 months time. In the long-term, the Israel Interest Rate is projected to trend around 0.50 percent in 2022, according to our econometric models.

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Israel Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.10 0.10 17.00 0.10 1996 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-08-24 01:00 PM 0.10% 0.10% 0.10% 0.10%
2020-10-22 01:00 PM 0.1% 0.10% 0.10% 0.10%
2020-11-30 02:00 PM 0.1% 0.1% 0.1% 0.1%
2021-01-04 02:00 PM 0.1% 0.1% 0.1%
2021-02-22 02:00 PM 0.1% 0.1%
2021-04-19 02:00 PM
2021-05-31 01:00 PM
2021-07-05 01:00 PM
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Bank of Israel Holds Key Policy Rate at 0.1%
The central bank of Israel left its benchmark interest rate unchanged at 0.1 percent on January 4th 2021, saying the fast pace of the inoculation process in Israel increases the optimism regarding a rapid return of the economy to a path of growth in the coming year. The Research Department’s forecast outlines that in the rapid inoculation scenario, GDP is expected to grow by 6.3 percent in 2021, and by 5.8 percent in 2022. However, the risks to economic activity remain high, and the adverse impact on the economy, and particularly on the labor market, is expected to be prolonged. The Committee will therefore continue to utilize a range of tools in order to increase the extent of the monetary policy accommodation and to ensure the continued orderly functioning of the financial markets.
2021-01-04
Israel Leaves Monetary Policy Unchanged
The central bank of Israel left its benchmark interest rate unchanged at 0.1 percent on November 30th 2020, in line with expectations. Policymakers noted that positive results in coronavirus vaccine tests are increasing optimism regarding the rapid return of the economy to a path of growth in the coming year. However, the adverse impact on the economy, and particularly on the labor market, is expected to be prolonged, and the central bank will therefore continue to utilize a range of tools in order to increase the extent of the monetary policy accommodation and to ensure the continued orderly functioning of the financial markets.
2020-11-30
Israel Increases Asset-Purchase Program
The central bank of Israel left its benchmark interest rate unchanged at 0.1 percent on October 22nd 2020, in line with expectations. However, the bank increased the government-bond purchase program by ILS 35 billion, aiming to continue to support financing ability in the economy, amid the strengthening of the coronavirus crisis and its economic effects. In March, the central bank launched an ILS 50 billion programme to buy government bonds on the secondary market, with the goal of easing credit terms in the economy and support economic activity and financial stability.
2020-10-22
Bank of Israel Holds Key Policy Rate at 0.1%
The Bank of Israel held its benchmark interest rate at 0.1 percent during its August meeting, saying inflation expectations for the coming year remained below the lower bound of the target range, while the Covid-19 pandemic continued to leave its mark on the economy. According to the latest forecasts by the central bank GDP is expected to contract by 4.5 percent in 2020 and to grow by 6 percent in 2021 if the virus is contained. In the more severe scenario, in which there is only partial control of the pandemic, accompanied by a further deterioration in the global situation, the economy is seen contracting by 7 percent, before rebounding by only 3 percent in 2021. The debt to GDP ratio in 2021 is expected to hit 78 percent in the optimistic scenario, or 87 percent under the pessimistic scenario.
2020-08-24

Israel Interest Rate
In Israel, the interest rates decisions are taken by the Bank of Israel. The official interest rate is the "headline" rate.