BANK OF ISRAEL CUTS RATES FOR FIRST TIME IN NEARLY TWO YEARS: The Bank of Israel lowered interest rates today for the first time in nearly two years, citing strong third-quarter recovery but ongoing inflation risks from the war and fiscal pressure.

The committee led by Governor Amir Yaron approved the move as inflation stayed at 2.5% in October, within the 1%–3% target. Yaron has faced criticism for keeping borrowing costs high during the two-year war, and Finance Minister Bezalel Smotrich had pushed for relief.

The cut is expected to ease pressure on mortgage holders and borrowers with variable-rate loans.