Israel Keeps Rates on Hold on Uncertainty Over War in Gaza

Israel’s central bank left interest rates unchanged for a 13th consecutive time, as policymakers weigh a slowdown in the economy against ongoing uncertainty from the country’s nearly two-year war in Gaza.

The Bank of Israel left its base rate at 4.5% on Wednesday, in line with the expectation of all eight economists in a Bloomberg survey. Forward guidance remained unchanged, with the monetary policy committee saying rates will be “determined in accordance with the convergence of inflation to its target range, stability in the financial markets, economic activity, and fiscal policy.”