Smotrich Calls on Bank of Israel to Rapidly Lower Interest Rates

SadaNews Economy Translation - Israeli Finance Minister Bezalel Smotrich called on Wednesday evening the Governor of the Bank of Israel to significantly and quickly lower interest rates.

Smotrich stated at a press conference before the budget presentation in the Knesset, as translated by the SadaNews Economy department, that our macroeconomic data is nothing short of stunning. After two years of costly war, the State of Israel is a great power.

He predicted growth in gross domestic product of up to 5.2%.

He added: Our currency shows exceptional strength against the dollar and is trading at historic levels… When the shekel is strong, prices decrease.

He continued: To complete the success of our financial policy, the Governor must do one thing: he must lower interest rates significantly and quickly to cause economic growth. We are not in inflationary realms, and a strong shekel will lead it to decrease even more.

He pointed out that the technology sector is at its absolute peak and that we have surpassed what it was before the war. He said.