In a tumultuous turn of events for Israel, a night marked by military response to Iran's attack six days earlier was coupled with a blow to the nation's economic credit rating. S&P, the renowned credit rating agency, made the sobering announcement of lowering...
Geopolitical Ripples: Shekel’s Decline Sends Shockwaves Through Israeli Markets
The foreign exchange market in Israel witnessed heightened volatility as the shekel depreciated sharply against the dollar, nearing a five-month high at NIS 3.80. This significant movement reflects ongoing concerns surrounding Israel's geopolitical situation,...
Breaking Down Israel’s Latest CPI Data: What Does It Mean for the Economy?
The latest data on consumer prices in Israel reveals a notable uptick, raising questions about the trajectory of the country's interest rates. In March 2024, the consumer price index (CPI) surged by 0.6%, exceeding initial forecasts that had projected a 0.5% increase....
Bank of Israel Holds Interest Rate Amidst Economic Recovery and Inflation Concerns
The Bank of Israel opted to maintain the country's interest rate at 4.5%, citing a split among senior economists and various economic indicators influencing the decision-making process. The decision came amidst a backdrop of differing opinions among economists...
Israel’s Deficit Hits Record High as Economic Challenges Persist
In a sobering announcement today, Yaheli Rotenberg, the Accountant General of Israel's Ministry of Finance, disclosed that the country's cumulative deficit has surged to 6.2% of the GDP over the past 12 months, amounting to a staggering 117.3 billion shekels. This...
Volatility Persists in Foreign Exchange Markets as Shekel Recovers Against Dollar
Amidst ongoing turbulence in the foreign exchange market, the shekel has shown resilience after a recent downturn, bouncing back against the dollar. On Tuesday, the dollar saw a 0.9% decrease compared to its representative rate, trading at 3.70 shekels. This follows a...
Fitch Maintains Israel’s A+ Credit Rating Despite Negative Outlook
Fitch Ratings has announced its decision to uphold the country's credit rating at A+. The decision comes after a thorough review process during which a potential downgrade was under consideration. However, the outlook for Israel's rating has been downgraded from...
Israel’s Aviation Rebound: Passenger Traffic Surges as Airlines Gradually Return
With travel slowly returning to pre-war levels, airlines are cautiously resuming flights to Israel. British Airways is set to recommence its Tel Aviv-London route this week, marking a significant step in the country's aviation recovery. The anticipated surge in...
Stock Markets Reach New Heights Despite Economic Headwinds
In an unexpected divergence from conventional wisdom, global stock markets are experiencing a remarkable surge despite ominous signs of an economic slowdown. This phenomenon, observed across major exchanges in Frankfurt, London, Paris, Tokyo, and Tel Aviv, has...
Israeli Shekel Surges Against Major Foreign Currencies Following Fed Decision
The Israeli shekel has seen a significant surge in value against major foreign currencies, with the dollar plummeting by approximately 2% against the shekel and trading below the 3.6 shekels mark. Even the euro has witnessed a sharp depreciation against the shekel,...