Finance Minister Bezalel Smotrich criticized the Bank of Israel's interest rate cut, calling it a 'minimal' reduction that does not align with the challenges facing households and businesses, according to N12. Smotrich said the cut is disconnected from the economy's needs and harms the high-tech and export sectors.
Finance Minister Bezalel Smotrich criticized the Bank of Israel's decision to cut the interest rate, calling the reduction 'minimal' and arguing it fails to address the real challenges facing Israeli households and businesses. According to N12, Smotrich said the move is 'not connected to the economy's needs' and harms the high-tech and export sectors. The criticism comes a day after the central bank announced a quarter-point rate cut, a move that was welcomed by the business sector as necessary relief for the economy, as The Zioneer reported. Smotrich's remarks underscore ongoing tensions between the Finance Ministry and the Bank of Israel over monetary policy amid the post-war economic transition.
- DevelopingAnalysts assess Bank of Israel will cut interest rate by quarter point tomorrow
- DevelopingLahav chair: Bank of Israel rate cut insufficient, half-point reduction was needed
- DevelopingHi-Tech Union chair says Bank of Israel rate cut 'a step in the right direction, but insufficient'
- StrongDubi Amitai: Rate cut 'enables business sector to invest, hire, return to growth'
Source and signal
- Internal intake