Smotrich says interest rate cut ‘a minimal reduction that does not match challenges’

6 July 2026, 4:57 pm

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Finance Minister Bezalel Smotrich attends an Israel Hayom conference in Jerusalem, July 5, 2026. (Chaim Goldberg/Flash90)

Finance Minister Bezalel Smotrich criticizes the Bank of Israel’s decision to cut the interest rate by 0.25%, calling it “a minimal reduction that does not match the challenges of the economy.”

Smotrich says he urged the Bank of Israel “to cut interest rates sharply” and says the current rate “is not aligned with the needs of the economy, and makes things harder for the high-tech sector and exports. A sharp interest rate reduction is the right step, one that will ease the cost of living and balance the strengthening of the shekel.”