Bank of Israel reduce the interest rate

After almost two years of interest rate hikes (starting in April 2022), and almost 4 years since the last interest rate cut during the COVID-19 crisis, the Bank of Israel decided today to reduce the base interest rate by 0.25 percentage points to 4.5%.
This decision is due to a controlled inflation, with a forecast of 3.3% for the year (the target being 3%) and this despite the instability linked to the war. This is for sure the green light for the recovery of the real estate market, and will reduce the cost of credit for businesses and households.