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Israel Central Bank Policy Rate
The Israel policy interest rate is the benchmark rate set by the Bank of Israel to influence borrowing costs, credit conditions, and inflation throughout the economy. It is the single most important price in Israel's financial system.
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Why Central Bank Policy Rate matters for ILS
Policy rate differentials between countries are the primary driver of carry-trade positioning and long-run FX equilibrium. When the Bank of Israel is hiking while others are on hold, the ils typically appreciates on an interest rate differential basis.
How to interpret this series
A surprise rate hike is ils-positive; a surprise cut is negative. Forward guidance and the policy statement accompanying each decision are often more market-moving than the rate change itself, as markets are usually well-positioned for the expected move.
Historical Central Bank Policy Rate
Source: Bank of Israel. Cadence: ~8x/year. Unit: %. Coverage metadata updating.
Recent announcements
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Related Israel indicators
Move to adjacent releases in the same macro category.
Common questions
Editorial context for readers and AI agents using this page as a cited country indicator source.
How do I get the Bank of Israel policy rate history via API?
Policy rate history for Israel is available at /api/v1/announcements/ils/policy_rate, with announcement_datetime for every meeting decision.
What happens to the ils when the Bank of Israel raises rates?
Rate hikes attract capital inflows seeking higher yield, which typically strengthens the ils in the short run. However, very aggressive hikes can raise recession fears and eventually weaken the currency.