Eateries open after nearly three-month closure.
Faced with an economy expected to enter recession, soaring unemployment and no government budget, it is difficult to imagine a harder welcome for Israel Katz.
The central bank on April 6 trimmed its benchmark rate to 0.1% from 0.25%, the first rate cut in five years and matching its all-time low.
The number of unemployment benefit claimants has climbed to almost 939,500, or 22.6% of the workforce.
"Our estimate is that 20% of all the employees who have exited the workforce will not return to their place of work."
People have been seen emptying stores worldwide because of fears sparked by the coronavirus outbreak.
Inbound tourism in February is estimated to be worth NIS 1.7 billion ($493m.) to the Israeli economy, the Tourism Ministry said.
“We are working with the Finance Ministry to secure an economic safety net for the private sector to ensure continued economic activity.”
The outbreak of the coronavirus, the bank said, is casting uncertainty over a range of areas, including future economic activity both in Israel and abroad.
"As the time required to eradicate the virus grows longer, the economic impact grows exponentially."