Interest Rates in Israel

Yesterday was a public holiday in the two most active FX trading countries so we saw very little movement in the exchange rates.

What did happen yesterday was the interest rate decision by the Bank of Israel. They decided to keep rates on hold at 0.5%. This wasn't much of a surprise and hence it had little impact on the exchange rates.

The Bank of Israel also said they will continue to be buying $100m every day which should help push the Dollar shekel rate back above 4.....lets hope it stays there this time!