Bank of Israel voted 5-0 to hold rates at October decision, minutes show

JERUSALEM (Reuters) – All five members of the Bank of Israel’s monetary policy committee voted on Oct. 9 to leave the benchmark interest rate unchanged at 4.5%, minutes of the discussion showed on Tuesday.

“In view of the continuing war, the monetary committee’s policy is focusing on stabilizing the markets and reducing uncertainty, alongside price stability and supporting economic activity,” the central bank said in a statement accompanying the minutes.

Bank of Israel officials have indicated that a rate reduction the rest of 2024 is unlikely and should inflation – currently at a rate of 3.5% – remain high, rate increases were possible.

The next monetary policy decision will come on Nov. 25.