Shekel weakens as possible rate cut looms

Shekel Photo: ASAP Creative

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The Bank of Israel Monetary Committee meets next Monday to decide on the interest rate and 50% of analysts see the bank cutting the rate from 0.25% to 0.1%.

The shekel is weakening today against the dollar and against the euro. In afternoon inter-bank trading the shekel was up 0.25% against the dollar at NIS 3.432/$ and up 0.23% against the euro at NIS 3.704/€

Yesterday, the Bank of Israel set the representative shekel-dollar rate up 0.234% from Tuesday at NIS 3.424/$, and the representative shekel-euro rate was set down 0.127% at NIS 3.695/€.

The Bank of Israel Monetary Committee meets next Monday to decide on the interest rate and 50% of analysts see the bank cutting the rate from 0.25% to 0.1%, reversing the decision in November 2018, to raise the rate from 0.1% to 0.25%.

Published by Globes, Israel business news - en.globes.co.il - on February 20, 2020