The central bank of Israel left its benchmark interest rate unchanged at 0.1 percent on March 19th 2021, in line with forecasts. Policymakers noted the rapid vaccine-led economic recovery, with activity at its highest since the onset of the pandemic, while mortality rates took a sharp downturn. The economy jumped an annualized 6.5 percent in Q4 of 2020, a final estimate showed. Inflation in Israel rose above the flatline in March to 0.2 percent, the first time in a year, while the Governor sees inflation to reach the 1-3 percent target by May. The bank added the unemployment rate fell to 12.0 percent during the first half of March and forecasts a 7.5 percent jobless rate by the end of the 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 5.0 percent in 2022. source: Bank of Israel

Interest Rate in Israel averaged 5.19 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 May 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 0.25 percent in 2022 and 0.50 percent in 2023, 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
2020-11-30 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% 0.1% 0.1%
2021-04-19 01:00 PM 0.1% 0.1% 0.1% 0.1%
2021-05-31 01:00 PM 0.1%
2021-07-05 01:00 PM
2021-08-23 01:00 PM
2021-10-07 01:00 PM


News Stream
Israel Interest Rate Unchanged at 0.1%
The central bank of Israel left its benchmark interest rate unchanged at 0.1 percent on March 19th 2021, in line with forecasts. Policymakers noted the rapid vaccine-led economic recovery, with activity at its highest since the onset of the pandemic, while mortality rates took a sharp downturn. The economy jumped an annualized 6.5 percent in Q4 of 2020, a final estimate showed. Inflation in Israel rose above the flatline in March to 0.2 percent, the first time in a year, while the Governor sees inflation to reach the 1-3 percent target by May. The bank added the unemployment rate fell to 12.0 percent during the first half of March and forecasts a 7.5 percent jobless rate by the end of the 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 5.0 percent in 2022.
2021-04-19
Israel Keeps Rates Steady
The central bank of Israel left its benchmark interest rate unchanged at 0.1 percent on February 22nd 2021, in line with forecasts. Policymakers noted that 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. 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.
2021-02-22
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 Interest Rate
In Israel, the interest rates decisions are taken by the Bank of Israel. The official interest rate is the "headline" rate.