News
Latest News
news bulletin
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Other News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Beirut
26
o
Bekaa
20
o
Keserwan
24
o
Metn
24
o
Mount Lebanon
21
o
North
24
o
South
24
o
Live
Video
Audio
Schedule
shows
العربية
watching now
Nharkom Said
SUBSCRIBE
Home
Notification
Live
Video
Audio
shows
Beirut
26
o
Bekaa
20
o
Keserwan
24
o
Metn
24
o
Mount Lebanon
21
o
North
24
o
South
24
o
News
Programs
The News
Breaking Headlines
Israel-Gaza War Updates
Variety and Tech
Sports News
Middle East News
World News
Lebanon News
Press Highlights
Lebanon Economy
News Bulletin Reports
Programs
Series
Movies
Documentaries
Variety
Comedy
Talk Show
News Bulletin
Breaking News
Latest News
Highlighted News
Most Read
Videos
العربية
Watch the latest programs and the latest developments on your favorite screen
Shows
Join millions of followers
Who We Are
Contact Us
Advertise With Us
Careers
Channel frequencies
Privacy Policy
Terms and Conditions
Citing Gaza war uncertainty, Israel's monetary policy committee votes to leave benchmark interest rate unchanged
Israel-Gaza War Updates
11-03-2024 | 09:43
High views
Share
Share
3
min
Citing Gaza war uncertainty, Israel's monetary policy committee votes to leave benchmark interest rate unchanged
Four of the five members of the Bank of Israel's monetary policy committee voted on Feb. 26 to leave the benchmark interest rate (ILINR=ECI) unchanged at 4.5 percent, meeting minutes showed on Monday, citing uncertainty over the trajectory of Israel's war with Hamas militants in Gaza.
One policymaker voted to lower the key rate by a quarter of a percentage point to 4.25 percent.
In January, the central bank lowered the rate by a quarter-point from 4.75 percent, cutting for first time in nearly four years.
Prior to the rate cut, policymakers had held rates steady for four straight decisions, following 10 straight rate increases that had taken the policy rate up from 0.1 percent in April of 2022.
It noted that economic activity indicators showed a gradual improvement in activity, after a notable contraction in business activity with the eruption of the war on Oct. 7, while market volatility had moderated and financial markets were operating properly.
Still, "the level of uncertainty regarding the expected scope and duration of the fighting is very high, and this impacts as well on the extent of the adverse impact on activity," the minutes said.
Israel and Lebanon's Hezbollah have been trading fire since the Hamas attack on Israel, fuelling concern about the danger of all-out war between the adversaries.
The central bank had said in January that its rate cut cycle would be slow to maintain financial stability, even as inflation continues to ease - reaching a 2.6 percent rate in January.
"In view of the war, the monetary committee’s policy is focusing on stabilizing the markets and reducing uncertainty, alongside price stability and supporting economic activity," it said.
Despite the war and a credit rating downgrade by Moody's, the shekel is stable and near its strongest level of 2024.
But policymakers remained wary, pointing to a still high risk premium for Israel as measured by credit default swaps and a wide spread between Israel's dollar-denominated government bonds and U.S. government bonds.
Since the rates decision, Israel sold a record high $8 billion of dollar-denominated bonds in robust demand.
The war has dented Israel's economy, contracting by nearly an annualised 21 percent in the fourth quarter from the prior three months. Growth was 2 percent in all of 2023.
Reuters
Israel Gaza War Updates
Middle East News
Israel-Gaza War Updates
Gaza
War
Israel
Monetary
Next
Israel is committing genocide in Gaza, scholars' association says
Recommended For You
d-none hideMe
0
Israel-Gaza War Updates
03:28
Israel says date for opening Gaza's Rafah crossing to be announced at a later stage
Israel-Gaza War Updates
03:28
Israel says date for opening Gaza's Rafah crossing to be announced at a later stage
0
Israel-Gaza War Updates
03:20
Israel threatens to resume fighting if Hamas does not respect Gaza truce deal
Israel-Gaza War Updates
03:20
Israel threatens to resume fighting if Hamas does not respect Gaza truce deal
0
Israel-Gaza War Updates
01:40
Israel confirms identities of two deceased hostages returned Wednesday
Israel-Gaza War Updates
01:40
Israel confirms identities of two deceased hostages returned Wednesday
0
Israel-Gaza War Updates
00:27
US adviser: plans underway to form an international force in Gaza
Israel-Gaza War Updates
00:27
US adviser: plans underway to form an international force in Gaza
Subscribe to our VOD
SUBSCRIBE
Our visitors readings
d-none hideMe
0
Lebanon News
2025-10-13
Lebanese President says 'necessary to negotiate' with Israel
Lebanon News
2025-10-13
Lebanese President says 'necessary to negotiate' with Israel
0
World News
10:36
France urges preservation of democracy in Madagascar after military seizes power
World News
10:36
France urges preservation of democracy in Madagascar after military seizes power
0
World News
2025-10-09
Ukraine orders evacuation of children around frontline city of Kramatorsk
World News
2025-10-09
Ukraine orders evacuation of children around frontline city of Kramatorsk
0
Middle East News
2025-09-10
Israel says struck Houthi 'military targets' in Yemen
Middle East News
2025-09-10
Israel says struck Houthi 'military targets' in Yemen
Videos
d-none hideMe
0
Lebanon News
2025-10-04
Meet Miss Lebanon 2025 contestants: Video
Lebanon News
2025-10-04
Meet Miss Lebanon 2025 contestants: Video
0
Lebanon News
2025-10-03
Series of Israeli airstrikes spark massive fire in southern Lebanon
Lebanon News
2025-10-03
Series of Israeli airstrikes spark massive fire in southern Lebanon
0
Lebanon News
2025-09-07
Lunar eclipse captivates Lebanon: watch the stunning video
Lebanon News
2025-09-07
Lunar eclipse captivates Lebanon: watch the stunning video
Most read
d-none hideMe
24 hours
7 days
Month
1
News Bulletin Reports
13:10
Tannourine water contamination raises alarm in Lebanon: New details emerge
News Bulletin Reports
13:10
Tannourine water contamination raises alarm in Lebanon: New details emerge
2
Lebanon News
06:52
Health Minister to LBCI: Tannourine water case technical, ministry explores options to ensure safety
Lebanon News
06:52
Health Minister to LBCI: Tannourine water case technical, ministry explores options to ensure safety
3
Lebanon News
07:17
LBCI sources: Lebanon highlights Israeli violations in meeting without Morgan Ortagus
Lebanon News
07:17
LBCI sources: Lebanon highlights Israeli violations in meeting without Morgan Ortagus
4
Lebanon News
08:44
US-Lebanon talks in Washington highlight reform push: Making ‘Lebanon great again’ is not a dream
Lebanon News
08:44
US-Lebanon talks in Washington highlight reform push: Making ‘Lebanon great again’ is not a dream
5
Lebanon News
11:33
Three Israeli airstrikes target the town of Seddiqine
Lebanon News
11:33
Three Israeli airstrikes target the town of Seddiqine
6
Lebanon Economy
13:50
Lebanon's economy minister expects cabinet to sign fiscal gap law soon — Reuters
Lebanon Economy
13:50
Lebanon's economy minister expects cabinet to sign fiscal gap law soon — Reuters
7
News Bulletin Reports
13:09
Swift coordination resolves Lebanese-Syrian border detainment of two boys
News Bulletin Reports
13:09
Swift coordination resolves Lebanese-Syrian border detainment of two boys
8
News Bulletin Reports
13:08
Rafah crossing remains closed as Israel cites Hamas delays—the details
News Bulletin Reports
13:08
Rafah crossing remains closed as Israel cites Hamas delays—the details
Download now the LBCI mobile app
To see the latest news, the latest daily programs in Lebanon and the world
Google Play
App Store
We use
cookies
We use
cookies
to make
your experience on this
website better.
Accept
Learn More