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☆ A data scientist who retired at 36 shares 3 charts that helped him manage his money and get out of the corporate world early
▼ + stars: | 2024-04-03 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +1 min

Yaron Goldstein retired at 36, following a successful career as a data scientist. AdvertisementYaron Goldstein retired at 36, around 10 years after he first started working. His career as a data scientist took him from consulting to tech giants such as Google and Meta. Goldstein told Business Insider that he found two money strategies that worked for him. This story is available exclusively to Business Insider subscribers.

Persons: Yaron Goldstein, Goldstein, — Organizations: Service, Google, Meta, Business

☆ More clarity needed on future defence spending, Israel's central bank chief says
▼ + stars: | 2024-03-31 | by ( ) www.cnbc.com time to read: +2 min

Amir Yaron, governor of the Bank of Israel, speaks during an interest rates news conference in Jerusalem, Israel, on Monday, Feb. 26, 2024. Israel's central bank chief on Sunday called on the government to enact responsible fiscal policy by reining in non-defence spending to offset any further expansion in the military budget. Israel intends to add some 20 billion shekels ($5.4 billion) of spending towards defence a year going forward. Israel's economy grew 2% in 2023, with zero per capita GDP. The governor said Israel's economy entered the war with good economic fundamentals and has in the past rebounded rapidly from crises.

Persons: Amir Yaron, Israel, Yaron Organizations: Bank of Israel, Hamas, Jewish Locations: Jerusalem, Israel, Israel's, Gaza

Goldman Sachs lowered its rating on Estée Lauder to neutral, and its new price target calls for a slight decline going forward. Elsewhere, Daiwa raised its price target on Nvidia, which points to more than 10% upside over the next 12 months. The firm stood by its outperform rating on the chipmaker stock, but lifted its price target to $900 from $535. FLYW YTD mountain FLYW in 2024 Faucette accompanied his downgrade by lifting his price target to $30 from $27. He also lifted his price target on the stock to $40 from $30, implying upside of 24.6% from Thursday's close.

Persons: Goldman Sachs, Estée Lauder, Jefferies, Root, Daiwa, Brad Sills, Sills, — Lisa Kailai Han, Stephens, Vita Coco, Coco, Jim Salera, COCO, Lisa Gill, Gill, Louis Miscioscia, Miscioscia, Lisa Kailai Han, Piper Sandler downgrades, Piper Sandler, Mark Fitzgibbon, Fitzgibbon, Morgan Stanley downgrades Flywire, Morgan Stanley, James Faucette, Faucette, Goldman Sachs downgrades Estée Lauder, Lauder, Goldman, Yaron Kinar, Kinar, Fred Imbert Organizations: CNBC, Nvidia, Bank of America, of America, Vertex, Accenture, RSM, BDO, JPMorgan, Daiwa, Markets, Riding, AMD, Intel, York Community Bancorp, York Community, New York Community Bancorp, Travel, B2B, U.S, Jefferies Locations: York, Canada, Asia, China, Hainan, Thursday's

☆ This New York medical school will no longer charge tuition—here are 3 other med schools where future doctors study for free
▼ + stars: | 2024-02-28 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +1 min

Albert Einstein College of Medicine on Monday announced it received a historic billion-dollar donation to make tuition free. While becoming a doctor has historically been a lucrative career path, many students come out of med school under a mountain of student debt. Nearly 3 in 4 med school graduates have education-related debt when they graduate, according to Bankrate. Public med school graduates leave with an average of $194,558 in debt, while those who attend private schools graduate with an average of $222,899 in loans. "Additionally, it will free up and lift our students, enabling them to pursue projects and ideas that might otherwise be prohibitive."

Persons: Einstein, Yaron Tomer, Albert Einstein Organizations: Albert Einstein College of Medicine, Monday Locations: New York, Bronx

☆ Albert Einstein College of Medicine to offer free tuition after billion-dollar gift
▼ + stars: | 2024-02-26 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +4 min

New York CNN —Students at the Albert Einstein College of Medicine in New York will receive free tuition after a $1 billion dollar donation from a former faculty member. In 2010, their gift of $25 million to the Albert Einstein College of Medicine went towards creating the school’s Institute for Stem Cell Research and Regenerative Medicine. Professor Emerita of Pediatrics at Albert Einstein College of Medicine and The Lizette H. Sarnoff Award recipient Ruth L. Gottesman, Ed.D. Brent N. Clarke/Getty ImagesDr. Ruth Gottesman joined the medical school in 1968 and developed screening, evaluation and treatments for children with learning disabilities. In 2018, in part due to Langone’s donations, NYU’s School of Medicine became the first medical school in the country to offer free tuition to accepted students.

Persons: Ruth Gottesman, David “ Sandy ” Gottesman, Berkshire Hathaway, Warren Buffett, Philip Ozuah, Sandy Gottesman, “, Sandy, ”, H, Sarnoff, Ruth L, Brent N, Clarke, Emily Fisher Landau, Ruth Gottesman’s, Michael Bloomberg, Ken Langone, Yaron Tomer, Albert Einstein Organizations: New, New York CNN, Albert Einstein College of Medicine, Montefiore Medicine, Manhattan Co, school’s, Stem Cell Research, Regenerative, Sinai, Pediatrics, Rehabilitation Center, Emily Fisher Landau Center, Johns Hopkins University, Home Depot, NYU’s School of Medicine, Association of American Medical Colleges, ” Locations: New York, Berkshire, Manhattan, New York City, Bronx

☆ A widow unexpectedly received $1 billion of Berkshire Hathaway stock. Now, she's covering Bronx med students' tuition forever.
▼ + stars: | 2024-02-26 | by ( Grace Eliza Goodwin | ) www.businessinsider.com time to read: +4 min

"He left me, unbeknownst to me, a whole portfolio of Berkshire Hathaway stock," Gottesman told The New York Times. She would donate the money in full to the Albert Einstein College of Medicine in the Bronx, New York's poorest borough, the Times reported. Advertisement"I wanted to fund students at Einstein so that they would receive free tuition," she told the Times. Her gift is so large that it will cover students' tuition to the medical school in perpetuity, Albert Einstein College of Medicine said in a press release. A year's tuition at the school costs over $59,000, leaving many graduates with more than $200,000 in debt, the Times reported.

Persons: —, Ruth Gottesman's, Gottesman, Gottesman couldn't, Einstein, Ruth Gottesman, XOy9HZLbfD, 1ijv02jHFk —, Gottesman's, David, Sandy, Warren Buffett, Berkshire Hathaway, Yaron Tomer, Marilyn, Stanley Katz Dean Organizations: Service, Berkshire Hathaway, New York Times, Albert Einstein College of Medicine, Times, Montefiore Health Systems, Pediatrics, Health, Einstein, Foundation, Manhattan Co Locations: Berkshire Hathaway, Bronx ,, @EinsteinMed, Buffet's, Berkshire

It is the first time Moody’s has lowered Israel’s credit rating, which is used by investors to measure the riskiness of investing in a global entity or government. Moody’s downgraded Israel from A1 to A2 and said the outlook for the country’s economy was “negative.” The A2 rating nonetheless continues to carry relatively low risk, according to Moody's. Photos You Should See View All 21 ImagesStill, Israeli officials fear that the Moody’s downgrade could lead other major agencies also to downgrade Israel’s outlook. Israel’s economy bounced back after previous wars with Hamas, but the current war is much longer than any of those. Concerns about Israel’s governance, rising inflation and a worldwide slowdown in tech investments last year also weighed on the economy.

Persons: “, ” Moody’s, Moody’s, Bezalel Smotrich, ”, Benjamin Netanyahu, Michel Strawczynski, it’s, Amir Yaron, Israel –, Western Europe —, Benjamin Netanyahu's, Moody's Organizations: —, Sunday, Finance, Hebrew University, Bank of Israel, Bank of Israel Gov Locations: TEL AVIV, Israel, Gaza, Jerusalem, Western Europe

☆ Israel's ban on Palestinian workers is causing supply shocks to its economy: central bank governor
▼ + stars: | 2024-01-18 | by ( Natasha Turak | ) www.cnbc.com time to read: +3 min

"And it's primarily in the construction industry where ... a third of that industry is Palestinians from the West Bank, and now they're not coming in to work." "It's also affecting agriculture, where they are in, and there are other foreign workers," Yaron said. watch nowThe ban on most of these workers returning to their employment in Israel has dramatically hurt the economy of the West Bank. In late December, Israel's finance ministry warned that the ban on Palestinian workers could cost Israel's economy billions of shekels per month. Fifty percent of the sites are closed and there is an impact on Israel's economy and the housing market."

Persons: Amir Yaron, Kobi Wolf, CNBC's Dan Murphy, Yaron, Raul Sargo Organizations: Bank of Israel, Bloomberg, Getty, Economic, West Bank, Israel, Times, Israel Builders Association Locations: Jerusalem, Israel, Davos, Gaza, Times of Israel, Thailand

☆ Israel has the opportunity to hit the 'restart button' on fiscal policies, governor says
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael has the opportunity to hit the 'restart button' on fiscal policies, governor saysAmir Yaron, the Bank of Israel governor, discusses fiscal policy. "There are other issues on the fiscal side that this was an opportunity to do a restart button, such as core studies, things that are engine growth for longer term for the economy," he says.

Persons: Amir Yaron Organizations: Israel, Bank of Israel

☆ Israel is a dynamic and resilient economy that will bounce back, Bank of Israel governor says
▼ + stars: | 2024-01-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIsrael is a dynamic and resilient economy that will bounce back, Bank of Israel governor saysAmir Yaron, Bank of Israel governor, speaks to CNBC's Dan Murphy about the economic challenges the country is facing amid the war in Gaza.

Persons: Amir Yaron, CNBC's Dan Murphy Organizations: Israel, Bank of Israel Locations: Gaza

☆ Israel's central bank estimates spending to fight Hamas will be about 10% of GDP
▼ + stars: | 2024-01-17 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

Israel's war with Hamas is costing the country the equivalent of 10% of GDP, the central bank's governor said. The Bank of Israel has estimated that it will cost about $58 billion between 2023 and 2025. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThe Hamas war will cost Israel the equivalent of a 10th of the country's GDP, the central bank's chief said on Wednesday. AdvertisementThe central bank has also stepped in to stop the shekel from sliding last year, providing $15 billion through swap lines, and pushing the currency up 8.8% against the dollar in November.

Persons: —, Amir Yaron, Yaron Organizations: The Bank of Israel, Service, Bank of Israel, Bloomberg Locations: Israel

☆ Israel's war with Hamas will cost $53 billion, Israeli central bank says
▼ + stars: | 2023-11-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Israel's central bank forecasts war with Hamas to cost $53 billion between 2023 and 2025, per the WSJ. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNew estimates from the Israeli central bank forecast the war with Hamas to cost Israel roughly $53 billion between now and 2025, according to a Wall Street Journal report. By the end of 2024, the war will cut into Israel's GDP by 3%, in the Israeli central bank's view, even as policymakers work to stabilize financial markets and its currency. Thanks to central bank interventions, it's jumped about 9% over the last four weeks against the greenback, after the conflict had previously dragged the currency to an 11-year low.

Persons: Israel's shekel, —, Amir Yaron, it's, Yaron Organizations: Service, Wall, Bank of Israel, greenback Locations: Israel

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 27 (Reuters) - The U.S. health regulator on Monday approved SpringWorks Therapeutics' (SWTX.O) drug for treating adult patients with desmoid tumors, making it the first approved treatment for this type of non-cancerous soft-tissue growth. The brokerage estimates U.S. sales of $3 million in 2023 and $79 million in 2024 and peak sales of $544 million in 2032. Desmoid tumors are rare, abnormal non-cancerous growths that occur in connective tissues and are associated with a high rate of recurrence. An estimated 1,650 people in the U.S. are diagnosed with desmoid tumors each year, according to data from the National Institutes of Health.

Persons: Andrew Kelly, Saqib Islam, Ogsiveo, Cowen, Yaron, Islam, Pratik Jain, Christy Santhosh, Shilpi Majumdar, Shailesh Organizations: Food and Drug Administration, FDA, REUTERS, Therapeutics, Food, National Institutes of Health, Thomson Locations: White Oak , Maryland, U.S, United States, Bengaluru

☆ Hit by war, Israelis defer loan repayments in October -banks regulator
▼ + stars: | 2023-11-22 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

An explosion takes place during Israeli air strikes over Gaza, as seen from southern Israel, amid the ongoing conflict between Israel and the Palestinian group Hamas, November 22, 2023. REUTERS/Alexander Ermochenko Acquire Licensing RightsJERUSALEM, Nov 22 (Reuters) - Israelis deferred payment on nearly 3 billion shekels of loans in October as a result of Israel's war with Hamas, the banking regulator said on Wednesday. Following the attacks on Israel by Palestinian Hamas gunmen on Oct 7 and the subsequent war, the central bank's banking supervisor told banks to allow for loan deferrals and ease fees for households and businesses affected by the conflict. "It is important to emphasize to the public the significance of deferring loan repayments, and that borrowers should do so only if they really need to." ($1 = 3.7154 shekels)Reporting by Steven Scheer; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

Persons: Alexander Ermochenko, Banks Daniel Hahiashvili, Amir Yaron, Steven Scheer, Angus MacSwan Organizations: Palestinian, Hamas, REUTERS, Rights, Bank of, Data, deferrals, " Bank of Israel, Thomson Locations: Gaza, Israel, Bank of Israel, Palestinian

Heavy fighting broke out around the Indonesian Hospital, which has housed thousands of patients and displaced people for weeks. More than 250 patients with severely infected wounds or other urgent conditions remain stranded at Shifa Hospital days after Israeli forces entered the compound. Four other babies died in the two days before the evacuation on Sunday, according to Mohamed Zaqout, the director of Gaza hospitals. NETANYAHU EXTENDS CENTRAL BANK GOVERNOR’S TERMTEL AVIV, Israel — Israeli Prime Minister Benjamin Netanyahu says he has decided to grant the country’s central bank chief a second term. Jordan will build the hospital in southern Gaza to help with the territory's health crisis.

Persons: Yemen’s, Egypt’s, ”, Mohamed Zaqout, “, Hirokazu Matsuno, Yemen’s Houthi, Abraham Ungar, Ungar, Matsuno, NYK, BILL, Itamar Ben, ” Gil Dikman, Gvir, Ophir Katz, Benjamin Netanyahu’s, Netanyahu, NETANYAHU, Benjamin Netanyahu, Amir Yaron, Yaron, Bezalel Smotrich, Israel —, Gila Gamliel, Gamliel, Israel’s, Gamliel’s, GAZA KHAN YOUNIS, JERUSALEM —, Elad Aderi, Aderi Organizations: Health Ministry, Indonesian Hospital, World Health Organization, Shifa, West Bank, Israel’s, Palestinian, Crescent, Galaxy Leader, Ray Car Carriers, Associated Press, Houthi, Galaxy Maritime Ltd, British military’s United Kingdom Maritime Trade Operations, Israel Defense Forces, Firefighters, National, National Security, CENTRAL BANK, Gov, Finance, BE, Intelligence, Jerusalem Post, Palestinian Authority, Street Journal, Monday, Israel Democracy Institute Locations: Gaza, Gaza City, Israel, Gaza's, China, Pakistan, israel, EGYPT, Gaza’s, Egypt, Palestinian, JAPAN, Japan, Iran, Bahamas, Philippines, Bulgaria, Ukraine, Mexico, Romania, Gulf of Oman, Saudi Arabia, Oman, India, Hodeida, British, ISRAEL, Lebanon, Biranit, JERUSALEM, Israel’s, TEL AVIV, Israeli, GAZA, Jerusalem, United States, U.S, JORDANIAN, Jordanian, Rafah, Jordan

☆ Israel says it raised $8 billion of debt since start of war with Hamas
▼ + stars: | 2023-11-13 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

Israel Defense Forces/Handout via REUTERS Acquire Licensing RightsJERUSALEM, Nov 13 (Reuters) - Israel has raised about 30 billion shekels ($7.8 billion) in debt since the start of the war with Hamas militants, the Finance Ministry said on Monday. Slightly more than half of that - 16 billion shekels - was dollar-denominated debt raised in issuances in international markets, it said. The ministry on Monday raised another 3.7 billion shekels in the local market in its weekly bond auction. As a result, Israel recorded a budget deficit of 22.9 billion shekels in October, a leap from 4.6 billion in September and pushing up the deficit over the prior 12 months to 2.6%. But Bank of Israel Governor Amir Yaron has said the government needs to balance "supporting the economy and maintaining a sound fiscal position."

Persons: Benjamin Netanyahu, Amir Yaron, Steven Scheer, Hugh Lawson Organizations: Palestinian, Hamas, Israel Defense Forces, REUTERS Acquire, Rights, Finance, Bank, Israel, Bank of Israel, Thomson Locations: Gaza, Israel, issuances

☆ Fed Chair Powell speech delayed by climate protestors
▼ + stars: | 2023-11-09 | by ( ) www.cnbc.com time to read: 1 min

Federal Reserve Chairman Jerome Powell (L) is rushed off stage as climate protesters walk on stage during the 24th Jacques Polak Annual Research Conference at the International Monetary Fund headquarters in Washington, DC, on November 9, 2023. Federal Reserve Chair Jerome Powell resumed a speech at the International Monetary Fund on Thursday after climate protestors briefly disrupted the eventPowell left the stage after the arrival of the protestors, who were chanting "end fossil finance." It was the second time in weeks that a Fed chair event was disrupted by climate protestors. Israel's central bank chief Amir Yaron, a fellow panelist at the event, remained on stage throughout.

Persons: Jerome Powell, Jacques Polak, Powell, Amir Yaron Organizations: International Monetary Fund, Federal, Fed Locations: Washington ,

☆ Fed's Powell resumes speech at IMF after climate activists' protest
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

[1/2] Climate protesters interrupt an event with Federal Reserve Chair Jerome Powell at the International Monetary Fund, in Washington, DC, U.S., November 9, 2023. REUTERS/Howard Schneider Acquire Licensing RightsCompanies International Monetary Fund FollowNov 9 (Reuters) - Climate activists on Thursday took over a stage inside the secured headquarters of the International Monetary Fund where Federal Reserve Chair Jerome Powell and Israeli central bank Governor Amir Yaron were speaking at a research conference. "End fossil finance," the protesters shouted as Powell was ushered off the stage by security. It was the second time in weeks that an event attended by the Fed chief was disrupted by climate activists. A group took over the stage at an event featuring Powell in New York on Oct. 24.

Persons: Jerome Powell, Howard Schneider, Amir Yaron, Powell, Yaron, Powell's, Spokespeople, Ann Saphir, Mark Porter, Andrea Ricci, Paul Simao Organizations: Federal, International Monetary Fund, REUTERS, International Monetary, Fed, IMF, Thomson Locations: Washington , DC, Israeli, New York

☆ Analysis-Israel Targets Hamas Tunnels in New Phase of Gaza War
▼ + stars: | 2023-11-07 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +6 min

In recent days, Israeli troops have surrounded Gaza City and battled Hamas fighters as they pushed deeper into its streets. Israeli Defense Minister Yoav Gallant approved on Monday further operational plans for military action in Gaza City and the northern Gaza Strip. The Israeli military has said that many of Hamas' tunnels, command centres and rocket launchers lie adjacent to schools, hospitals and humanitarian institutions in northern Gaza, including the Al-Shifa hospital in Gaza City, the region's largest. Hamas is estimated to have a force of between 20,000 and 30,000 fighters, according to Israeli security sources. Security sources said some intelligence was being gathered from Gaza residents fleeing south about the concentration of the tunnels.

Persons: Jonathan Saul JERUSALEM, Yoav Gallant, Daniel Hagari, Avi Melamed, Benny Gantz, Hagari, Israel, Ayman Nofal, Yaron Finkelman, Finkelman, Lior Akerman, Shin, Shalom Ben Hanan, Ben Hanan, Nidal al, Daniel Flynn Organizations: Israeli, Israel Defense Forces, Islamic, Southern Command, Institute for Policy, Israel's Reichman University, Shin Bet, Shin Locations: Gaza, Gaza City, Israel, Hamas, Washington

☆ Israel targets Hamas tunnels in new phase of Gaza war
▼ + stars: | 2023-11-07 | by ( Jonathan Saul | ) www.reuters.com time to read: +7 min

In recent days, Israeli troops have surrounded Gaza City and battled Hamas fighters as they pushed deeper into its streets. Israeli Defense Minister Yoav Gallant approved on Monday further operational plans for military action in Gaza City and the northern Gaza Strip. Hamas is estimated to have a force of between 20,000 and 30,000 fighters, according to Israeli security sources. Hagari said that Israel was seeking to target Hamas field commanders to undermine Hamas capabilities to carry out counter attacks. Security sources said some intelligence was being gathered from Gaza residents fleeing south about the concentration of the tunnels.

Persons: Ammar Awad, Yoav Gallant, Daniel Hagari, Avi Melamed, Benny Gantz, Hagari, Israel, Ayman Nofal, Yaron Finkelman, Finkelman, Lior Akerman, Shin, Shalom Ben Hanan, Ben Hanan, Nidal al, Daniel Flynn Organizations: Hamas, REUTERS, Rights, Israeli, Israel Defense Forces, Islamic, Southern Command, Institute for Policy, Israel's Reichman University, Shin Bet, Shin, Thomson Locations: Gaza, Israel, Palestinian, Sderot, Gaza City, Hamas, Washington

[1/2] The Bank of Israel building is seen in Jerusalem June 16, 2020. Israel's central bank has played its part too with a flurry of support measures, and has stayed away from rate cuts. At the outset of the war, markets were stunned. "The Bank of Israel took very aggressive action," said Gil Moshe, the head of markets at the Israel unit of U.S. bank Citi. Looking to next year, Shmuel Katzavian, a strategist at Israel's Discount Bank, expects the shekel to continue to strengthen.

Persons: Ronen, Israel's, Yaniv Pagot, Amir Yaron, Geoff Yu, Gil Moshe, Pagot, Shmuel Katzavian, Steven Scheer, Marc Jones, Jan Harvey Organizations: Bank of, REUTERS, Rights, Tel Aviv Stock Exchange, Reuters, U.S . Federal Reserve, BNY Mellon, Reuters Graphics, Israel, Citi, Israel's Discount Bank, Thomson Locations: Bank of Israel, Jerusalem, Gaza, Iran, Lebanon, Israel's, Israel, U.S, London

☆ When Israel needs to fight Hamas in its tunnels, it turns to an elite band of commandos called the Yahalom unit
▼ + stars: | 2023-11-06 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Clearing out the Hamas tunnels is one assignment for the Israel Defense Forces (IDF) amid its ongoing ground invasion of Gaza, now a little more than a week old. To effectively carry out this task, the military has a elite band of commandos who are trained for underground warfare and other subterranean operations known as the Yahalom unit. The unit was created in 1995 and doubled in size after the 2014 Gaza War — known in Israel as Operation Protective Edge — to deal with the growing threat posed by Hamas' tunnels. On Friday, for example, the IDF said Yahalom soldiers working in tandem with other units destroyed Hamas tunnels during "special operations" inside the strip. "Hamas views warfare underground just as it would aboveground, utilizing defense, offense, and retreat," he remarked.

Persons: —, Nir Elias, Krav Maga, Israel, they're, Yaron Beit, Yahalom, John Spencer, Spencer Organizations: IDF, Service, Israel Defense Forces, Combat Engineering Corps, REUTERS, Yahalom Foundation, Military, Telegram, West, Institute, US Locations: Gaza, Israel, Tel Aviv, Beit Hanoun

Reuters GraphicsThe Tel Aviv Inter-Bank Offered Rate, or TELBOR , a proxy for interest rate expectations, shows markets are now pricing in just over 50 bps of rate cuts over the next 12 months. "We thought the market was overreacting and exaggerating a rate cut in the (Oct. 23) decision, during the war," Bank Hapoalim's Shafrir said. The central bank's own economists project 50-75 bps of rate cuts in the next year. Prior to the war, markets had predicted that the benchmark rate would be lowered by at least 100 bps through 2024 as inflation returned to its target range. Israel's next rate decision is due on Nov. 27 with markets currently expecting rates to be held, and the three-month TELBOR rate pointing to a 25 bps cut in early 2024.

Persons: Violeta Santos Moura, Morgan Stanley, Georgi Deyanov, Modi Shafrir, Amir Yaron, Andrew Abir, Shafrir, Yaron, Anatoliy Shal, Shal, Steven Scheer, Karin Strohecker, Sumanta Sen, Kirsten Donovan Organizations: REUTERS, Palestinian, Hamas, Bank of Israel, Bank Hapoalim, Reuters, Tel Aviv Inter, Monday, P Global Market Intelligence, Thomson Locations: Israel's, Gaza, Israel, LONDON, Jerusalem, London

The Bank of Israel building is seen in Jerusalem June 16, 2020. Finance Minister Bezalel Smotrich has said the government will spend whatever is needed on the war and on compensation. Bank of Israel Governor Amir Yaron on Monday cautioned that it was "important to continue conducting responsible fiscal policy." The central bank projects the debt-to-GDP ratio growing to 62% this year and to 65% in 2024 from 60.5% in 2022. Israel will have to raise more debt, but the government still has some manoeuvring room, given the relatively low budget deficit and debt-to-GDP ratio before the war as well as its long-term debt portfolio, the ministry official said.

Persons: Ronen, Bezalel Smotrich, Amir Yaron, Steven Scheer, John Stonestreet Organizations: of, REUTERS, Rights, Hamas, Bank of Israel, Thomson Locations: of Israel, Jerusalem, Israel, Gaza

☆ Israel to amend budget, Gaza war direct cost at $246 mln daily
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] Israeli soldiers stand guard and look at a fire that was caused when a rocket that was launched from Gaza landed in southern Israel, October 24, 2023. Smotrich described the S&P downward revision from "stable" published on Tuesday as "alarmist" and said he did not anticipate major Israeli deficits despite the crisis. He praised Bank of Israel Governor Amir Yaron, who was due to have stepped down but extended his tenure due to the crisis, for "functioning above and beyond". But Smotrich would not be drawn on whether Yaron should be formally kept in office. Writing by Dan Williams Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

Persons: Violeta Santos Moura, Bezalel Smotrich, Smotrich, Amir Yaron, Dan Williams, Bernadette Baum Organizations: REUTERS, Rights, Israeli, Army Radio, Bank of Israel, Thomson Locations: Gaza, Israel

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