The central bank of Israel left its key interest rate steady at 0.1 percent on May 25th 2020, in line with market expectations and following a 15bps cut in the previous meeting. Policymakers said the coronavirus crisis has led to an unprecedented contraction in the scope of economic activity and to a steep increase in the number of jobseekers. Under the assumption there won’t be an additional wave of infections and a renewed increase in the severity of the limitations, after a marked contraction in 2020, GDP growth will recover rapidly in 2021, but the unemployment rate at the end of 2021 will be higher than what it was just prior to the crisis. The central bank added that will expand the use of the existing tools, including the interest rate, and will operate additional ones if the crisis is lengthening and it is necessary to achieve the monetary policy goals and to moderate the negative economic impact created as a result of the crisis.

Interest Rate in Israel averaged 5.32 percent from 1996 until 2020, 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 July of 2020.

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 2021 and 0.75 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 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-01-09 02:00 PM 0.25% 0.25% 0.25% 0.10%
2020-02-24 02:00 PM 0.25% 0.25% 0.25% 0.25%
2020-04-06 01:00 PM 0.10% 0.25% 0.18% 0.18%
2020-05-25 01:00 PM 0.1% 0.10% 0.10% 0.10%
2020-07-06 01:00 PM 0.10% 0.10% 0.10%
2020-08-24 01:00 PM 0.10%
2020-10-22 01:00 PM
2020-11-30 02:00 PM
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Israel Leaves Rates Steady
The central bank of Israel left its key interest rate steady at 0.1 percent on May 25th 2020, in line with market expectations and following a 15bps cut in the previous meeting. Policymakers said the coronavirus crisis has led to an unprecedented contraction in the scope of economic activity and to a steep increase in the number of jobseekers. Under the assumption there won’t be an additional wave of infections and a renewed increase in the severity of the limitations, after a marked contraction in 2020, GDP growth will recover rapidly in 2021, but the unemployment rate at the end of 2021 will be higher than what it was just prior to the crisis. The central bank added that will expand the use of the existing tools, including the interest rate, and will operate additional ones if the crisis is lengthening and it is necessary to achieve the monetary policy goals and to moderate the negative economic impact created as a result of the crisis.
2020-05-25
Israel Cuts Key Policy Rate to 0.1%
Bank of Israel slashed its benchmark interest rate by 15bps to 0.1 percent during its April meeting, while markets had forecast a narrower 7bps rate cut. Policymakers voiced concerns about the coronavirus outbreak and its negative impact on the economy, with projections pointing to a 5 percent GDP contraction in 2020. The Committee also announced the provision of monetary loans to banks for a term of 3 years, with a fixed interest rate of 0.1 percent, to support lending to small and micro businesses, and the expansion of the plan through which repo transactions are carried out vis-à-vis financial entities, so that the agreements can include corporate bonds (in addition to government bonds) as security.
2020-04-06
Israel Holds Interest Rate Steady at 0.25%
The central bank of Israel left its benchmark interest rate steady at 0.25 percent on February 24th, in line with market expectations. The Bank noted the year-on-year inflation is likely to be negative in the coming months, although it is expected to move back toward the lower bound of the target range in the second half of the year. Policymakers also added that Israel’s economic activity continued to grow at around its long-term growth rate.
2020-02-24
Israel Leaves Monetary Policy Unchanged
The central bank of Israel left its benchmark interest rate steady at 0.25 percent on January 3rd, in line with market expectations. In the coming months, inflation is expected to remain near the lower bound of the target range while the shekel has been relatively stable against the dollar. The Bank also noted that Israel’s economy activity continued to grow in the last quarter of 2019 while the labor market remained tight. The central bank added that it will be necessary to leave the interest rate at its current level for an extended period or reduce it to stabilize inflation.
2020-01-09

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