Bank of Israel​

Bank of Israel Governor Prof. Amir Yaron and the members of the Monetary Committee held their quarterly meeting today with the group of forecasters who regularly provide the Bank of Israel with projections for inflation, the interest rate, and the exchange rate.

Israel’s foreign exchange reserves at the end of June 2026 stood at $238,699 million, an increase of $18 million from their level at the end of the previous month. The level of the reserves relative to GDP was 37.2 percent (Figure 1).

Remarks by the Governor of the Bank of Israel at the press briefing on monetary policy held today at the Bank of Israel

The Monetary Committee decides on July 6, 2026 to lower the interest rate to 3.5 percent.

This document presents the macroeconomic staff forecast formulated by the Bank of Israel Research Department in July 2026 concerning the main macroeconomic variables—GDP, inflation, and the interest rate.