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The Bank of Israel's Monetary Committee, chaired by the Governor, today held its quarterly meeting with a group of forecasters who on a regular basis provide the Bank of Israel with forecasts on inflation, the interest rate, and exchange rates. The meeting serves as an exchange of views and assessments between the Bank of Israel and important financial institutions in the market.
 
The Governor of the Bank of Israel opened the meeting and referred to developments in the global and domestic economies.
 
Bank of Israel Research Department economist Alon Binyamini presented the Department's forecasts, which were published in tandem with the most recent interest rate decision, as well as the process by which the Research Department Staff Forecast, which includes forecasts of macroeconomic data, is reached. (The presentation, in Hebrew, is attached.)

 
Additionally, Eyal Argov of the Bank of Israel’s Research Department and Ramsis Gara of the Information and Statistics Department reviewed the Central Bureau of Statistics’ Business Tendency Survey and the Climate Indices which are derived from it.
 
 
The forecasters offered their responses and provided their assessments of developments.