Israel policy interest rate
The Bank of Israel interest rate (ריבית בנק ישראל) — the central bank's headline policy rate, decided by the Monetary Committee (הוועדה המוניטרית) established under the Bank of Israel Law, 5770-2010, at eight scheduled decisions a year published at 16:00 on the announcement date. A new rate does not apply on the announcement day: it takes effect at the start of the next reserve-maintenance period, which for a Monday announcement is the following Thursday.
| Current value | 3.5 percent |
|---|---|
| In force from | 2026-07-09 |
| Official source | Bank of Israel press release, 'The Monetary Committee decides on July 6, 2026 to lower the interest rate to 3.5 percent.' (06/07/2026); effective date 09/07/2026 per the BoI 'Interest rate announcement dates 2026' table (Maintenance period Start Date column) |
| Last verified | 2026-07-24 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
Third cut of 2026 (from 4.00% at the start of the year) and the second consecutive one, 25bps from 3.75%. The effective date is 9 July 2026, not the 6 July announcement date: the BoI's published 2026 announcement calendar (https://www.boi.org.il/en/economic-roles/monetary-policy/interest-rate-announcement-dates-2026/) pairs the 06/07/2026 publication date with a 09/07/2026 maintenance-period start, and the same release states in terms that for the next decision 'The effective date of the rate from that decision remains unchanged—September 3, 2026'. Committee reasoning at the July decision: the US–Iran memorandum of understanding lowered energy prices and eased geopolitical tension; May CPI fell 0.3% m/m with 12-month inflation at 1.9%, near the midpoint of the 1–3% target range; the shekel depreciated 3.1% against the USD over the review period; activity is recovering from the sharp contraction at the start of Operation Roaring Lion (the March–April confrontation with Iran), with Q1 2026 GDP revised to -3.8% annualised; the labour market is tight (broad unemployment 3% in May among ages 25–64, wages +6.8% y/y in March–May); Research Department forecast GDP +4.0% in 2026 and +5.5% in 2027, inflation 1.8% in both years, deficit 4.9% of GDP in 2026. NEXT DECISION: rescheduled from 31 August to Tuesday 1 September 2026, with the rate from it effective 3 September 2026. ACCESS NOTE: www.boi.org.il sits behind a Radware JavaScript bot wall — plain HTTP fetchers (curl, server-side fetch) get a 'Verifying your browser' interstitial with HTTP 200, so a source-watcher must render JavaScript. BoI static files under /media/ and /boi_files/ are fetchable directly.
Earlier values
| From | Value | Source |
|---|---|---|
| 2018-01-01 | 0.1 | Bank for International Settlements - Central Bank Policy Rat |
| 2018-11-29 | 0.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2020-04-10 | 0.1 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-04-14 | 0.35 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-05-26 | 0.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-07-07 | 1.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-08-25 | 2 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-10-09 | 2.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2022-11-24 | 3.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2023-01-05 | 3.75 | Bank for International Settlements - Central Bank Policy Rat |
| 2023-02-23 | 4.25 | Bank for International Settlements - Central Bank Policy Rat |
| 2023-04-07 | 4.5 | Bank for International Settlements - Central Bank Policy Rat |
Get it programmatically
curl https://mearef.dev/v1/il/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://mearef.dev/v1/il/policy-rate/history?from=2020-01-01
# Provenance: curl https://mearef.dev/provenance/il/policy-rateOther Israel series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates