Major consumer goods producers and importers bow to government pressure, postpone planned price hikes on hundreds of products. International Monetary Fund calls on the Bank of Israel to raise interest rates, taper foreign exchange intervention if inflation pressures intensify further
The new model is based on 30 sets of data with monthly frequency, such as imports, exports, revenue data based on VAT, tax revenue and employment data. Bank of Israel says the new model will join a host of others that will help it to make more accurate economic growth predictions.
Finance Minister Avigdor Lieberman asks Price Committee, which regulates prices of goods such as milk, eggs, and bread, and has the authority to add price controls on other products to review competition in the consumer goods market.
Finance Ministry officials laud government policies, say avoiding lockdown will make it easier for the economy to recover quickly.
Finance Minister Avigdor Lieberman and Economic Minister Orna Barbivay blast major producers and importers over recent "callous" and "cynical" series of price hikes, at a time when Israelis are dealing with economic hardships brought on by the global pandemic.
The embattled technology firm is said to be in negotiations with Integrity Partners for a $300 million cash infusion as it seeks to remove US sanctions imposed over Pegasus scandal.
Finance Minister Avigdor Lieberman says he is taking steps toward the realization of the wealth fund to the benefit of the public and future generations.
Bitcoin and Ether are down over 50% from all-time trading highs recorded in July. Over $1 trillion has been wiped from the crypto market's value since November.
The Israeli authority has until now refrained from weighing in on the matter, despite several requests to do so by Ben & Jerry's Israel franchisee Avi Zinger.
Among the Israeli firms to take a tumble are web development firm Wix, online marketplace Fiverr, and software company LivePerson. "We see accelerated growth and inflation and investors are seeking options in the old economy," analyst says.