Bank of Israel to pause rate cuts ahead of October 27 election: Reuters poll - 93.3 The Drive

A Reuters poll of economists reports that the Bank of Israel is expected to pause its rate-cutting cycle ahead of the country's October 27 election. The mechanism at work is the rate differential: a halt in cuts keeps Israeli policy rates elevated relative to peers, which supports the shekel by sustaining carry appeal for foreign investors while reducing the likelihood of near-term monetary easing that would weigh on the currency. Israeli government bonds and the shekel are the most directly exposed, since shifts in rate expectations feed straight into short-end yields and currency pricing, while equities with strong domestic or shekel-denominated earnings may also reprice on changing financing costs. Political risk premia tied to the election can compound these moves, as traders weigh fiscal and policy uncertainty alongside the central bank's stance. The next catalyst to watch is the Bank of Israel's scheduled rate decision and accompanying forward guidance, where any language on the timing of future cuts will clarify whether the pause is a temporary hold or a longer-term reassessment.

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