Israel's aggressive policy-tightening cycle has sparked anger among its citizens as mortgage, loan payments and the cost of living have soared, with inflation staying around 5%.
Prof. Amir Yaron also discusses the banks' response to interest rates, bank profits, and the housing crisis.
The central bank noted that an average return on equity of 16.4% was the highest since 2006, with some banks reaching 20%.
As the government prepares to pass the budget, it should not forget its pledge to voters before the last election to rein in the cost of living.
Despite the rate hikes, Israel's inflation rate stood at 5% in April, near a 14-year high and well above the government's 1%-3% annual target range.
With rising interest rates and several commissions that entered the businesses’ daily operations, many owners continue to use old-fashioned checks as the only solution to make necessary transactions
JPOST Digital Library
