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Monday, February 6, 2023
From the Liveblog of
Monday, February 6, 2023
HSBC warns legal overhaul could lead to fall in shekel
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Illustrative: 100 shekel banknotes, seen December 31, 2017. (Nati Shohat/Flash90)
A report by banking giant HSBC joins a chorus of warnings from the financial world that the government’s proposed legal reforms could harm the economy.
The report, which looks at the shekel, continues to recommend that customers invest in the Israeli currency, but cautions that if the overhaul goes ahead, it will likely see the value to the shekel drop.
“We can’t ignore the political developments,” the bank writes in its report.
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