Israel's gross domestic product will increase by 5.5% in 2022 and 5% in 2023, the Bank of Israel Research Department forecasted, financial daily Globes reported on Monday.
Follow Israel Hayom on Facebook, Twitter, and Instagram
It also predicted a 1.6% inflation in 2023, in the middle of the 1%-3% annual target range.
While the BOI has kept the interested rate unchanged, some central banks have begun raising their rates due to inflationary pressures, according to Globes.
"The rate hikes are only in countries where inflation is substantially above the inflation target, while in Israel inflation is significantly lower than many countries in the world," the Bank of Israel said.
The bank is in no hurry to increase the interest rate – a move that would strengthen the shekels – which is already appreciating because of the current account surplus.
