Bank of Israel Rate
Sets the cost of money for all of us. Every Monetary Committee decision moves the whole economy.
Historical trend
What is Bank of Israel Rate?
The Bank of Israel rate is the interest at which the central bank lends to commercial banks short-term. It is set by the BOI Monetary Committee, which meets about eight times a year. It is the anchor rate of the economy — every other rate (Prime, mortgages, deposits) derives from it.
How it affects you
The rate sets how expensive it is to borrow, what your money is worth in a deposit, and how much variable-rate mortgages rise or fall. When the rate goes up, the monthly payment on Prime/variable tracks grows. When it drops, the payment shrinks. Half a percentage point can shift thousands of shekels per year on an average mortgage.
How to read this number
A rate above 4% is historically high; below 1% is low (as in 2015–2022). When the central bank "hikes" the rate, it is usually responding to high inflation; when it "cuts" the rate, it is responding to an economic slowdown.
Related calculators
Source: Bank of Israel
Frequently asked
פתח/סגור: Who sets the rate?
The Bank of Israel Monetary Committee — six members chaired by the BOI Governor. They meet about eight times a year and publish a formal decision with reasoning.
פתח/סגור: When is the next decision?
The schedule is published on the BOI website at the start of each year. Typically every 4–6 weeks.