The Bank of Israel is expected to raise interest rates for the tenth consecutive time by a quarter of a percentage point to 4.75%, a 17-year high. The Consumer Price Index (CPI) jumped 0.8 percent in April, twice as much as forecasts, keeping the annual inflation rate at 5 percent, similar to last month.
In the US, inflation has already begun to moderate, and as a result, the interest rate market expects the dollar interest rate to begin to decline in November of this year.