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ISRAEL AT WAR - DAY 627

Israel interest rates

A branch of Bank Leumi in central Jerusalem (Maxim Dinshtein/Flash90)
May 20, 2025, 10:53 pm
Major banks’ profits surge as they cash in on wartime credit and fee growth
As households and businesses grapple with high cost of living, rising mortgage rates, and growing credit and loan needs during war, Bank Hapoalim and Bank Leumi post big profits
By Sharon Wrobel
Banking supervisor Daniel Hahiashvili speaks at a press conference in Tel Aviv on May 19, 2025. (Sharon Wrobel/Times of Israel)
May 19, 2025, 6:46 pm
Israeli regulator calls for more competition as large banks cash in on hefty loan fees
Banking supervisor seeks to remove barriers for the entry of non-bank entities that will provide credit and saving tools, force current lenders to offer better terms and services
By Sharon Wrobel
People withdraw money from a Bank Hapoalim ATM machine in Tel Aviv on December 9, 2024 (Miriam Alster/FLASH90)
March 5, 2025, 8:20 pm
Israeli banks rake in record profits as their war-battered customers drown in debt
Lack of competition, high interest rates and weak regulations have lenders notching record profits on the backs of households struggling to make ends meet during wartime
By Sharon Wrobel
The Bank of Israel's main offices in Jerusalem, January 2, 2023. (Yonatan Sindel/ Flash90)
February 26, 2025, 4:50 pm
Israeli banks told to set aside $839m to offer customers lower fees and other benefits
Bank of Israel urges banks profiting from high interest rates to provide benefits, as households, small businesses, and other war-affected populations struggle to make ends meet
By Sharon Wrobel
Bank of Israel main offices in Jerusalem, on August 12, 2021. (Yonatan Sindel/Flash90)
February 24, 2025, 11:24 pm
Central bank holds borrowing costs steady, despite subdued growth, jumping inflation
Bank of Israel keeps interest rates steady at 4.5% citing geopolitical uncertainty, shekel volatility, and fiscal changes
By Sharon Wrobel
Illustration: Israelis withdraw money from Bank Hapoalim cash machines. (Yonatan Sindel/Flash90)
January 14, 2025, 10:01 pm
More than a third of Israeli households spend more than they earn, as living costs rise
Around 2.5 million Israelis are overdrawing their accounts, struggling to make ends meet, while banks reap record profits from extending credit lines and charging high interest
By Sharon Wrobel
Bank of Israel governor Amir Yaron speaks at a press conference in Jerusalem, April 8, 2024. (Sharon Wrobel/Times of Israel)
January 6, 2025, 8:19 pm
Central bank sees economy improving but warns of continued geopolitical uncertainty
Bank of Israel holds interest rates at 4.5%, citing rising inflation following January tax hikes, including VAT; governor warns lawmakers against making changes to the 2025 budget
By Sharon Wrobel
Illustration: Israelis withdraw money from Bank Hapoalim cash machines. (Yonatan Sindel/Flash90)
November 18, 2024, 10:48 pm
Major lenders’ profits soar as banks cash in on wartime interest rate growth
As homes and businesses grapple with loan repayments, Hapoalim sees quarterly profit rise 14% fueled by NIS 4.58b in net interest income; Discount’s profit jumps 39%, Leumi’s 30%
By Sharon Wrobel
Bank of Israel Governor Amir Yaron speaks during a press conference at the Bank of Israel in Jerusalem, January 2, 2023. (Yonatan Sindel/Flash90)
August 28, 2024, 7:11 pm
Bank of Israel again leaves interest rate at 4.5%, amid wartime fiscal uncertainty
Central bank raises concern over the government’s expansionary fiscal policy and a widening deficit due to the war and the delay in the 2025 budget
By Sharon Wrobel
Illustrative. A man looks at dairy products while shopping at a Rami Levy supermarket. (Nati Shohat/Flash90)
July 15, 2024, 9:57 pm
Inflation edges higher, bolstered by uptick in housing prices
In June, annual inflation rose to 2.9%, reaching the upper range of the government’s target, reducing the odds that high borrowing costs will be lowered in coming months
By Sharon Wrobel
Bank of Israel Governor Amir Yaron speaks during a press conference at the Bank of Israel in Jerusalem, on January 7, 2019. (Noam Revkin Fenton/Flash90)
May 27, 2024, 7:06 pm
Bank of Israel leaves lending rate at 4.5%, as inflation and war uncertainty ramp up
Central bank has kept rate steady since cutting it in January; says it expects the deficit to rise due to war costs, pushing the state to make budgetary cuts and raise taxes
By Sharon Wrobel
A construction site in the luxury residential neighborhood Ir Yamim in the coastal city of Netanya, on January 14, 2024. (Shahar Yaari / Flash90)
March 12, 2024, 7:18 pm
Apartment sales jumped 14% in January amid ongoing war, new figures show
With 8,053 real estate deals in month, the highest figure since September 2022, the housing market sees some recovery, Finance Ministry’s monthly report shows
By Sharon Wrobel
Bank of Israel Governor Amir Yaron speaks during a press conference in Jerusalem, on April 11, 2022. (Flash90/File)
February 26, 2024, 9:59 pm
Israel’s central bank pauses rate cuts, amid ongoing uncertainty over war’s impact
Bank of Israel holds borrowing costs steady at 4.5% and expects the pace of interest rate cuts this year to be gradual and cautious
By Sharon Wrobel
Bank of Israel Governor Amir Yaron speaks during a press conference at the Bank of Israel in Jerusalem, on January 7, 2019. (Noam Revkin Fenton/Flash90)
November 27, 2023, 10:24 pm
Bank of Israel cuts growth forecast again due to war impact, leaves benchmark steady
Central bank head urges government to commit to make expenditure cuts of non-essential items in the 2024 state budget, including discretionary coalition funds
By Sharon Wrobel
Knesset Finance Committee chair MK Moshe Gafni during a committee meeting at the Knesset, in Jerusalem, on September 26, 2023. (Chaim Goldberg/Flash90)
November 27, 2023, 3:59 pm
Top Haredi MK slams extension of central bank head’s term, saying he ‘hurt the weak’
After Moshe Gafni calls Amir Yaron a ‘bad governor,’ Bank of Israel urges the Knesset Finance Committee chairman to become ‘knowledgeable about the basics of the economy’
By Sharon Wrobel
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