Bank of Israel cuts interest rates to four-year low to support postwar economic recovery

The Bank of Israel has reduced interest rates to 3.25%, marking a four-year low. The central bank stated the move is intended to bolster economic growth in the aftermath of the war, though it cautioned that the current recovery remains only partial. Meanwhile, the Manufacturers Association of Israel has criticized Governor Amir Yaron, arguing that the rate cut is both too little and too late. Manufacturers contend that the strength of the shekel is significantly eroding the profit margins of Israeli exporters.