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☆ Israel economy rebounds with 3.8% growth in Q3 amid wars with Hamas, Hezbollah
▼ + stars: | 2024-11-17 | by ( ) www.cnbc.com time to read: +2 min

A general view shows the Israeli city of Tel Aviv, on August 12, 2024, amid regional tensions during the ongoing war between Israel and the Palestinian Hamas movement in the Gaza Strip. The war has raged in Gaza since Hamas' Oct. 7, 2023 cross-border attack on southern Israel. Figures issued on Friday showed Israel's inflation rate held steady at 3.5% in September but staying above the government's annual inflation target of 1-3%. Government officials have largely blamed war-related supply issues for the spike in inflation at a time when inflation is largely easing globally. Israeli central bankers have said that further rate cuts, which have begun in the United States and Europe, are unlikely but warned of rate hikes should inflation remain high.

Organizations: Hamas, Central Bureau, Statistics, Government, Bank of Israel Locations: Tel Aviv, Israel, Palestinian, Gaza, Lebanon, United States, Europe

☆ A US missile-defense system, hailed as the world's best, is headed to Israel to counter Iran
▼ + stars: | 2024-10-14 | by ( Tom Porter | ) www.businessinsider.com time to read: +5 min

The US is sending a sophisticated missile defense system to Israel. The THAAD system was described by a former US general as the "best in the world." The move comes amid the rising threat of missile and drone attacks on Israel from Iran and its allies. It's the only missile defense system designed to intercept targets either inside or outside the Earth's atmosphere. AdvertisementAnd back in 2019, when Iran-backed Houthi rebels attacked Saudi oil facilities, the US deployed a THAAD system to protect the Kingdom.

Persons: —, Lockheed Martin, Mark Hertling, Hertling, It's, Israel's, Ahmet Kaya Organizations: Service, Israel, Lockheed, CNN, Hezbollah, Pentagon, Bloomberg, Area Defense, Brown University, Hamas, US, UK's National Institute of Economic, Social Research Locations: Israel, Iran, Lebanon, Tehran, Gaza, East, Yemen, Iranian, Saudi

☆ Israel is trying to dismantle Hezbollah's leadership, but there's a big problem
▼ + stars: | 2024-10-10 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Israel has been targeting Hezbollah's leaders with a series of air strikes. Hezbollah's leadership crisis may lead to internal power struggles and strategic shifts. AdvertisementIsrael is continuing its relentless campaign to dismantle Hezbollah's leadership. Israel says it killed Hezbollah chief Hassan Nasrallah in an airstrike on Beirut. As well as taking out Hezbollah's leadership with strikes in Lebanon and Gaza, Israel is also weighing up a counterattack against Iran after it launched a ballistic missile attack.

Persons: —, Hassan Nasrallah, Hezbollah's, Fu'ad, Ali Karaki, Ibrahim Aqeel, Hashem Safieddine, Israel, Chris McGrath, Benjamin Netanyahu, it's, Netanyahu, Mohammed Albasha, Albasha, Antony Loewenstein, KAWNAT HAJU, William F, Wechsler, Abbas al, Mireille Rebeiz, Nasrallah, Al, Ahmet Kaya Organizations: Service, Israel, Palestine, Sky News, Getty, Atlantic Council, Rafik Hariri Center and Middle, Islamic Jihad Organization, Middle East, Dickinson College, UK's National Institute of Economic, Social Research, CNN Locations: Israel, Syria's, Golan, Beirut, Chris McGrath Israeli, US, Lebanon, AFP, Rafik, Buenos Aires, Iran, Pennsylvania, Gaza

☆ It's now clear that interest rates in Israel will not go down, economist says
▼ + stars: | 2024-10-10 | 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 EmailIt's now clear that interest rates in Israel will not go down, economist saysRonen Menachem, chief markets economist at Mizrahi Tefahot Bank, discusses the the Bank of Israel's decision to keep rates on hold.

Persons: Ronen Menachem Organizations: Mizrahi Tefahot Bank, Bank of Locations: Israel

☆ Israel may have military superiority, but it lacks a clear strategic vision, say experts
▼ + stars: | 2024-10-08 | by ( Thibault Spirlet | Hannah Abraham | ) www.businessinsider.com time to read: +7 min

Experts told BI that Israel still lacks a long-term strategic vision on how to end the war. But while Israel may have military superiority in the region, it lacks a clear, long-term strategic vision to end conflict in the Middle East, according to security experts. It's clear the Israel Defense Forces have achieved a series of tactical gains in recent weeks, but they still lack a clear military strategy, security analysts told Business Insider. "Neither outcome achieves Israel's security objectives, which would represent a defeat for the IDF and could threaten the survival of Israeli Prime Minister Benjamin Netanyahu's government," Pfaff said. The problem may be that Israel's security doctrine has long been based on short wars.

Persons: Israel, —, Burcu, Benjamin Netanyahu, Bashir Abbas, Chris Doyle, Doyle, They're, Anthony Pfaff, Pfaff, Benjamin Netanyahu's, " Pfaff, Moody's, Will, Edmund Fitton, Brown, Donald Trump, Netanyahu, Kamala Harris, Daniel Hoffman Organizations: Service, Israel Defense Forces, Middle East Security, Royal United Services Institute, Israel's, Stimson Center, Council, Strategic Studies, US Army War College, Guardian, of Israel, CNN, Counter, CIA, Fox Business Locations: Iran, Lebanon, Gaza, Iraq, Syria, Israel, Beirut, British, Moody's Israel

The terror attack has helped push the Middle East to the brink of a wider regional war. One year after the massacre, the Middle East has only plunged deeper into violence and is on the brink of a broader war. Globally, the immediate concern is that oil supplies will diminish significantly should conflict spill over to the rest of the Middle East. Everyone but Biden can see this," wrote Andrew Exum, a former US deputy assistant secretary of defense for Middle East policy, in The Atlantic last week. The global economy on edgeWhen the conflict began a year ago, there were fears that wider conflict in the Middle East could impact the global economy.

Persons: —, Israel, Chuck Frielich, Frielich, Yemen's Houthi, Mohammed Hamoud, barraged, Ammar Safarjalani, Ismail Haniyeh, Haniyeh, Fuad Shukr, Hasan Nasrallah, Qasem Soleimani, JOSEPH EID, JALAA MAREY, Nasrallah, bode, Benjamin Netanyahu, Carmel Gat, Netanyahu, Joe Biden, Biden, Andrew Exum, Brent, Vladimir Putin Organizations: Service, Israel Defense Forces, Hamas, Iranian Revolutionary Guard Corps, The Washington Institute for Near East, Getty Images Iran, Getty, Israel's, United Nations General Assembly, Citigroup, Iranian, US, Middle, Business, Bank of Israel, Reuters, IMF Locations: Israel, Iran, Gaza, Suez, Aden, Red, Palestine, Syria, Damascus, Xinhua, Tehran, Beirut, Haniyeh, Shukr, Lebanon, AFP, Hezbollah's, United States, Ukraine

☆ The Middle East is on high alert for October 7 anniversary attacks as Israel intensifies strikes on Gaza and Lebanon
▼ + stars: | 2024-10-07 | by ( Hannah Abraham | Joshua Nelken-Zitser | ) www.businessinsider.com time to read: +5 min

The Middle East is anticipating strikes on the anniversary of the October 7 terror attacks. Israeli offensives have targeted several Middle Eastern regions, including Gaza, Lebanon, and Syria. AdvertisementThe Middle East is on high alert for military strikes timed to coincide with the first anniversary of the October 7 terror attacks on Israel. AdvertisementThere are fears the conflict could escalate into a full-blown war in the Middle East. AdvertisementIn June, the IMF said that the long-term economic effects of conflict on real GDP per capita in the Middle East would be particularly severe.

Persons: —, Yuval Baron, Keith Siegel, Adm, Daniel Hagari, Israel, Khader Ali Tawil, Kfar Yuval, Georgios Petropoulos, Jake Oubina, Piper Sandler Organizations: Service, Gaza Health Ministry, Reuters, Military, UN Humanitarian Affairs, CNN, Hamas, Health Ministry, BBC, Bank of Israel, Fox Business Locations: Gaza, Lebanon, Syria, Haifa, Israel, Iran, Tiberias, Beirut, Kfar, suboffice, Rafah, Yemen

☆ Israel’s economy is paying a high price for its widening war
▼ + stars: | 2024-10-04 | by ( Hanna Ziady | ) edition.cnn.com time to read: +10 min

London CNN —In late September, as Israel’s nearly year-long war widened and its credit rating was downgraded yet again, the country’s finance minister, Bezalel Smotrich, said that, while Israel’s economy was under strain, it was resilient. Israel’s economy could shrink even more than that, based on a worst-case estimate by the Institute for National Security Studies at Tel Aviv University. Before the October 7 attack and ensuing Israel-Hamas war, the International Monetary Fund forecast that Israel’s economy would grow by an enviable 3.4% this year. Smotrich, the finance minister, is confident that Israel’s economy will bounce back once the war ends, but economists are concerned the damage will far outlast the conflict. Florion Goga/ReutersOther sectors of Israel’s economy, while less important than tech, have been hit much harder.

Persons: London CNN —, Bezalel Smotrich, ” Smotrich, Hassan Nasrallah, ratcheting, Karnit, ‘, Menahem Kahana, ”, “ Israel, “, Smotrich —, Flug, Ahmad Gharabli, Fitch, —, Coface, Avi Hasson, Hasson, Florion Goga, Yaron Liberman, ” Liberman Organizations: London CNN, CNN, West Bank, United Nations, BMI, Fitch Solutions, Institute for National Security, Tel Aviv University, International Monetary Fund, of Israel, Getty, Bank of Israel, Israel Democracy Institute, Institute for National Security Studies, Moody’s, Startup Nation Locations: Lebanon’s, Beirut, Israel, Lebanon, Gaza, Israel’s, Iran, AFP, Egypt, Syria, Golan, Jerusalem's Old City, United States, Tel Aviv, housebuilding . Tourism

☆ Timeline: How the CrowdStrike outage unfolded
▼ + stars: | 2024-07-20 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +10 min

Washington, DC, public transportation services — including trains and buses — begin experiencing delays, according to the Washington Metropolitan Area Transit Authority. At 5:30 a.m., US cybersecurity firm CrowdStrike tells customers that it was “aware of reports of crashes” of its software on Microsoft Windows operating systems, according to a company advisory viewed by CNN. Australian lenders ANZ and Westpac were also impacted, according to Downdetector, a website that tracks cyber outages. Other states also report impacts to their driving services, including Georgia, North Carolina, Texas and Tennessee. CrowdStrike would take steps “to prevent anything like this from happening again,” according to a statement on the company’s website.

Persons: Ted Wheeler, they’re, We’re, Charlotte, Biden, Joe Biden, George Kurtz, ”, Brigham, Dana, Blood, Andrea Cefarelli, Jenny Ficenec, “, Kurtz, CrowdStrike Organizations: New, New York CNN, Federal Aviation Administration, American Airlines, FAA, Allegiant Airlines, Spirit Airlines, Washington Metropolitan Area Transit Authority, Metropolitan Transportation Authority, Microsoft, CNN, CrowdStrike’s, Fortune, White, National Security, Global, Australia’s Commonwealth Bank, Bank of Israel, ANZ, Westpac, ASB Bank . Portland, Emergency, Dispatch, United Airlines, Air Lines, Hartsfield Jackson International, Charlotte Douglas International Airport, ”, Miami International Airport, Customs, Border, Alaska State Troopers, Phoenix Police Department, Computer, Police, Rescue, Federal Communications Commission, US Department of Homeland Security, CrowdStrike, Social, US Department of Justice, UPS, FedEx, Massachusetts Department of Transportation, Vehicle, Mass, Penn Medicine, Northwell, Emory Healthcare, Farber Cancer Institute, Memorial Sloan Kettering Cancer Center, Provincial Health Services Authority, New York Blood Center, Northeast, Centers of America, Assurance Locations: New York, Alaska, Arizona, Delta, United, Washington, DC, New York City, North, Georgia, North Carolina , Texas, Tennessee, Massachusetts, Pennsylvania, Atlanta, Boston, British Columbia, New, Northeast United States, North Carolina, Virginia

☆ 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

☆ Israel’s economy slumps in the fourth quarter as war takes a toll
▼ + stars: | 2024-02-19 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Israel’s output contracted sharply in the final three months of 2023, falling for the first time in nearly two years, as the war with Hamas takes a heavy toll on the economy. The conflict is expected to cost Israel around 255 billion shekels ($70.3 billion) by the end of 2025, equivalent to around 13% of GDP, according to the Bank of Israel. And earlier this month, Moody’s delivered Israel’s first ever credit rating downgrade, citing elevated political risk and deteriorating public finances stemming from the war. “Under a scenario of outright conflict… the negative economic impact would spread to more sectors and be longer-lasting,” Moody’s said. In 2023 as a whole, Israel’s economy grew 2%, according to the statistics office.

Persons: Liam Peach, ” Peach, Moody’s, Israel’s, ”, ” Moody’s, Ido Soen Organizations: London CNN, Hamas, Gross, Israel’s, Bureau, Statistics, Israel, Capital Economics, Bank of Israel Locations: Gaza, Israel, Lebanese

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 and Hezbollah each have lessons from their last war, in 2006, a monthlong conflict that ended in a draw. A United Nations resolution ending the war called for withdrawal of Israeli forces from Lebanon and a demilitarized zone on Lebanon's side of the border. Israeli political and military leaders have warned Hezbollah that war is increasingly probable unless the militants withdraw from the border. Hezbollah leader Hassan Nasrallah hasn't threatened to initiate war but warned of a fight “without limits” if Israel does. Costs would rise sharply if there's war with Lebanon.

Persons: They've, U.N, Antonio Guterres, Hassan Nasrallah hasn't, Andrea Tenenti, Lisa Abou Khaled, ”, Tal Beeri, there's, Israel's, Orna Mizrahi, Netanyahu, Dina Arakji, ___ Lidman Organizations: United States, United, U.S, Bank of Israel, Alma Research, Education Center, Israel Democracy Institute, Institute for National Security Studies, Gaza's Health Ministry, Lebanese Locations: BEIRUT, Israel, Gaza, United, Lebanon, United Nations, Europe, Iran, Israel's, “, Syria, Iraq, Yemen, Beirut, ”, Tel Aviv

☆ 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'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

☆ Peace settlement could fuel inflation in Israel, economist says
▼ + stars: | 2023-11-28 | 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 EmailPeace settlement could fuel inflation in Israel, economist saysMarc Ostwald, global strategist and chief economist at ADM Investor Services, discusses the Bank of Israel's decision to keep it's rates unchanged at 4.75% and what it could mean for the country's economy long term.

Persons: Marc Ostwald Organizations: ADM Investor Services, Bank of 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

☆ Budget demands highlight tensions in Israel's wartime coalition
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

Israeli Emergency cabinet minister and opposition politician Benny Gantz leaves after he addressed the press in Kiryat Shmona, Israel November 14, 2023. Gantz, in a strongly-worded letter to Netanyahu that his office made public, referred to a meeting of the broader cabinet scheduled for Monday that will deal with the proposed budget changes. Gantz repeated his opposition to the inclusion of "coalition funds" in the proposed budget and said there should be no extra money for purposes beyond the war effort or supporting economic growth. Should the meeting take place and the budget remain as is, Gantz said his faction would "vote against the proposed budget and weigh its next steps". Most of the coalition funds had been cut, and those that remained were apolitical, it said.

Persons: Benny Gantz, Evelyn Hockstein, Benjamin Netanyahu, Gantz, Netanyahu, Netanyahu's, Bezalel Smotrich, Smotrich, Bezalel, Ari Rabinovitch, Giles Elgood Organizations: REUTERS, Rights, Finance, The Bank of Israel, Thomson Locations: Kiryat Shmona, Israel, Gaza

☆ 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

☆ 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

☆ Euro finds footing on hawkish policy remarks, lower energy prices
▼ + stars: | 2023-11-09 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. The Australian dollar fell 0.5% overnight and was last at $0.6405, just above its 50-day moving average. It seems set for its largest weekly fall since June, as the central bank appeared to raise the bar for further hikes after lifting rates on Tuesday. In Asia, China's yuan touched a two-month high in overnight offshore trade. China's consumer prices fell in October, data showed on Thursday, stoking expectations for lower interest rates.

Persons: Dado Ruvic, Gabriel Makhlouf, Joachim Nagel, Jane Foley, Mario Draghi, Brent, Ping, Michael Wan, Jerome Powell, Tom Westbrook, Christian Schmollinger Organizations: REUTERS, Central Bank's, Bank of Japan, Rabobank, Treasury, New Zealand, Canadian, Italian, ECB, Financial, Reuters, Ping An Insurance Group, HK, MUFG, Bank of Israel, Thomson Locations: SINGAPORE, Ireland's, U.S, Asia, Europe, Singapore, East, Gaza City

[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

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

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

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