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Search resuls for: "Anatoliy Shal"


2 mentions found


☆ War clouds Israel's interest rate outlook
  + stars: | 2023-10-26 | by ( Steven Scheer Karin Strohecker | Steven Scheer | Karin Strohecker | ) www.reuters.com   time to read: +5 min
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
☆ Bank of Israel to raise rates 25 bps next week, may be last in cycle
  + stars: | 2023-05-18 | by ( Steven Scheer | ) www.reuters.com   time to read: +2 min
Israel's annual inflation rate held steady at 5% in April versus expectations it would ease to 4.7%, and stayed well above an official annual target of 1-3%. Shal believes the cycle will end next week and expects rates to stay on hold for the rest of the year, before the Bank starts cutting them in early 2024. When it began hiking rates in April of 2022, the Bank of Israel had initially hoped its front-loading stance would be able to cap its key rate at around 3%. The inflation rate has stayed at at least 5% since last October and peaked at 5.4% in January. Bank Leumi Chief Economist Gil Bufman noted "the drop in inflation in Israel since its peak is low compared to the other countries".
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