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☆ Relatives of Gaza Hostages Storm Israeli Parliament Panel as Protests Mount
▼ + stars: | 2024-01-22 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

The action by about 20 people signalled growing domestic dissent in the fourth month of the Gaza war. One woman held up pictures of three family members who were among the 253 people seized in the cross-border Hamas rampage of Oct. 7 that triggered the worst fighting in decades. Parliamentary ushers, often quick to eject hecklers or protesters, stood by during the ruckus in the Knesset Finance Committee. On Sunday, Netanyahu rejected conditions presented by Hamas to end the war and release hostages that would includeIsrael's complete withdrawal and leaving Hamas in power in Gaza. (Writing by Dan Williams and Steven Scheer, Editing by Angus MacSwan)

Persons: Steven Scheer, Dan Williams JERUSALEM, Israel, Benjamin Netanyahu's, Moshe Gafni, Netanyahu, Israel's, Dan Williams, Angus MacSwan Organizations: Parliamentary, Jewish, Forum Locations: Jerusalem, Gaza, Netanyahu's

☆ Israeli lawmaker urges cbank to lower rates amid conflict
▼ + stars: | 2023-10-16 | by ( Steven Scheer | ) www.reuters.com time to read: +3 min

"The interest rate increases were due to inflation, and the reality has changed. I turn to the governor: just lower the interest rate," said committee chairman Moshe Gafni during a session to discuss compensation for those impacted by the fighting. Finance Minister Bezalel Smotrich, who was participating in the panel's session, rejected Gafni's call to demand Yaron lower rates. Gafni also called on banks to waive interest payments and said he was not satisfied with a central bank plan issued on Sunday. Under the plan, loan payments of mortgages, consumer credit and business credit would be deferred without charging interest and without charging fees.

Persons: Moshe Gafni, Ammar Awad, Amir Yaron, Gafni, Bezalel Smotrich, Smotrich, it's, Steven Scheer, Nick Macfie Organizations: Torah, REUTERS, Rights, Bank of Israel, Finance, Thomson Locations: Jerusalem, Israel, Gaza

JERUSALEM, Feb 22 (Reuters) - Israeli Prime Minister Benjamin Netanyahu on Wednesday instructed lawmakers from his Likud party to stop interfering with and speaking out against Bank of Israel Governor Amir Yaron and his interest rate policies. Cohen on Wednesday clarified on Twitter that he supported central bank independence. The central bank raised interest rates by half a percentage point at a policy meeting on Monday to 4.25%, its eighth hike since last April. "Prime Minister Netanyahu ordered Knesset members of Likud to stop interfering and speaking on the issue of the governor," said a Likud spokesperson. Some analysts believe that part of the shekel's recent depreciation versus the dollar stems from political attacks on the central bank.

☆ Protesters "fight for Israel's soul" as parliament readies judicial overhaul
▼ + stars: | 2023-02-20 | by ( Maayan Lubell | ) www.reuters.com time to read: +3 min

Polls have found that most Israelis want the reforms slowed to allow for dialogue with critics - or shelved altogether. Ahead of the afternoon reading, protesters posted online videos of themselves trying to prevent lawmakers from Netanyahu's coalition leaving for the Knesset. "Demonstrators who talk about democracy are themselves bringing about the end of democracy when they deny elected delegates the fundamental right in a democracy - to vote," Netanyahu said in a statement. Opposition leader Yair Lapid tweeted that demonstrations would mount "in the fight for the soul of the nation". Israel's head of state, President Isaac Herzog, has repeatedly urged the government and opposition to hold compromise talks.

☆ Israel delays bill to freeze mortgage rates for first-time buyers
▼ + stars: | 2023-02-12 | by ( Steven Scheer | ) www.reuters.com time to read: +1 min

JERUSALEM, Feb 12 (Reuters) - Israel will delay passing a new law that would freeze mortgage rates for first-time home buyers, Finance Minister Bezalel Smotrich said on Sunday, as the proposed legislation faces opposition from the country's central bank. Gafni and Smotrich said they would meet with the banking regulator, which is part of the central bank, to come up with a solution for mortgage holders. The benchmark interest rate is expected to soon reach at least 4%. Gafni for months has promoted a bill to protect some mortgage holders from higher rates to help ease the financial burden. Last week, he said he planned to bring the bill to the government's ministerial legislation committee on Sunday.

☆ Israel's Bank Hapoalim freezes mortgage rates for hard-hit homeowners
▼ + stars: | 2023-01-01 | by ( Steven Scheer | ) www.reuters.com time to read: +1 min

JERUSALEM, Jan 1 (Reuters) - Israel's Bank Hapoalim (POLI.TA) will not pass on to customers the central bank's next increase to interest rates, it said on Sunday, citing the struggles of homeowners faced with higher mortgage payments amid a broad spike in the cost of living. Hapoalim, one of Israel's two largest banks, said customers who have difficulty making mortgage payments will not have to pay extra and that it will leave the prime rate for them at 4.75% for now. The move is valid for one year for existing customers that have a mortgage linked to the prime rate and meet a number of criteria, the bank said. Hapoalim Chief Executive Dov Kotler put the number of customers who would benefit from the freeze at more than 10,000. In November Moshe Gafni, the head of the Israeli parliament's powerful finance committee, criticised a wave of central bank increases to interest rates and proposed legislation to shield mortgages.

☆ Israeli lawmaker tables bill to limit banks raising mortgage rates
▼ + stars: | 2022-12-12 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

JERUSALEM, Dec 12 (Reuters) - The head of Israel's powerful parliamentary finance committee submitted a bill on Monday that would limit banks' ability to raise mortgage rates after central bank interest rate increases. The Bank of Israel has raised its benchmark interest rate by 3.15 percentage points to 3.25% since April, with more hikes likely. Monthly mortgage repayments have soared by more than 1,000 shekels ($291), with high inflation an additional factor. The aggressive interest rate increases are aimed at countering inflation that has topped 5%, exacerbating already high costs of living. He said any legislation to get around the higher rates would create risks for banks.

☆ Israeli finance panel chief suggests law to shield mortgages from rate hikes
▼ + stars: | 2022-11-28 | by ( Steven Scheer | ) www.reuters.com time to read: +2 min

REUTERS/Amir Cohen/File PhotoJERUSALEM, Nov 28 (Reuters) - The head of the Israeli parliament's powerful finance committee on Monday criticized a wave of central bank interest hikes and said he would propose legislation to minimise their impact on mortgage holders. In a bid to fight rising inflation, the Bank of Israel last week raised its benchmark interest rate (ILINR=ECI) by a half-point to an 11-year high of 3.25%. It was the sixth increase in an aggressive monetary tightening cycle that has taken the rate from 0.1% in April. Gafni said his committee, which controls the government's purse strings, would not interfere in monetary policy decisions by Israel's independent central bank. Speaking to the committee, Bank of Israel Governor Amir Yaron defended the rate hikes, pointing to an inflation rate of 5.1%.

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