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Bank of Israel cuts rate to 3.25% for third time
For the third consecutive time, the Bank of Israel has lowered the interest rate to 3.25%, following a decrease in inflation to 1.5%. The move aims to support economic stability and financial activity. This reduction contributes to decreasing the cost of variable-rate mortgage loans, bringing the monthly payment on a 450,000-shekel mortgage over 25 years to approximately 65 shekels, and reducing the total loan cost by about 20,000 shekels. While this measure results in lower loan payments, it may also put pressure on savings returns and safe investments.
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