Bank of Israel to pause rate cuts ahead of October 27 election: Reuters poll - KELO-AM

A Reuters poll of economists reportedly indicates that the Bank of Israel is expected to pause its rate-cutting cycle ahead of the October 27 election. The primary transmission channel runs through the policy-rate path and the rate differential: a halt in easing narrows the expected decline in Israeli short rates relative to peers, which tends to support the shekel (ILS) by keeping carry attractive to foreign investors. Israeli government bonds and rate-sensitive instruments are the most directly exposed, since shifts in near-term rate expectations feed straight into the front end of the curve, while the banking sector can be affected through net interest margin expectations. Political uncertainty around the vote adds a risk-premium component, meaning election-related volatility could amplify currency and bond moves independent of the rate decision itself. Traders should watch the next Bank of Israel policy announcement and the upcoming Israeli CPI release, since inflation prints will determine whether the pause is read as a hold or as a signal of more extended tightening.

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