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Shekel’s Gains Represent Strong Fundamentals, Says Bank of Israel
New Israeli Shekel banknotes are seen in this picture illustration taken Nov. 9, 2021. Photo: REUTERS/Nir Elias/Illustration
The shekel’s rise to around four-year highs against the dollar reflects the resilience of the Israeli economy and comes amid solid export performance, Bank of Israel Governor Amir Yaron said on Wednesday.
Speaking to Reuters on the sidelines of the World Economic Forum in Davos, Yaron said the Israeli currency’s strength was also acting as a tailwind that was moderating inflation.
“The appreciation of the shekel represents a lot of the positive fundamentals in terms of geopolitical developments and certainly post the ceasefire,” he said of the October 2025 ceasefire in Gaza.
“We understand the appreciation makes it difficult for exports. But we’ve seen exports of both goods and services rise in the last two readings,” he added of the roughly 12% rise in the shekel against the dollar since the start of 2025.
Asked at what point the central bank would consider intervention to lower the level of the shekel, Yaron said: “The FX tool is part of the toolbox of the Bank of Israel. We have many tools for facilitating our policies.”
In the past, the central bank had bought tens of billions of dollars to keep the shekel from appreciating too fast and harming exporters. It sold $8.5 billion of foreign currency at the outset of the Gaza war in October 2023 to defend the shekel, but it has largely stayed out of the market since.
The Bank of Israel unexpectedly cut its interest rate by 25 basis points earlier this month, a second successive cut after lowering it in November for the first time in nearly two years.
It cited the shekel’s strength and an improving inflation environment after the ceasefire, which led to an easing of the supply constraints that emerged during the two-year war. The inflation rate currently stands at 2.6%, within an official 1-3% target range.
Yaron underlined that demand in the Israeli economy had remained robust during the conflict and that the bank had not so far seen it surge further as a result of the ceasefire.
“We haven’t seen demand erupt the way it did post-COVID,” he said.
He noted that the bank‘s research department had identified a baseline scenario of a further 50 basis points of cuts down to an official rate of 3.5% by the end of this year, notwithstanding the high level of uncertainty facing all central banks.
“We will have to see how much demand picks up, how much supply constraints are mitigating, what is happening with the tailwind from the shekel,” he said.
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UK PM Starmer Says There Could Be New Powers to Ban Pro-Palestinian Marches
British Prime Minister Keir Starmer gives a media statement at Downing Street in London, Britain, April 30, 2026. Photo: REUTERS/Jack Taylor/File photo
British Prime Minister Keir Starmer said the government could ban pro-Palestinian marches in some circumstances because of the “cumulative effect” the demonstrations had on the Jewish community after two Jewish men were stabbed in London on Wednesday.
Starmer told the BBC that he would always defend freedom of expression and peaceful protest, but chants like “Globalize the Intifada” during demonstrations were “completely off limits” and those voicing them should be prosecuted.
Pro-Palestinian marches have become a regular feature in London since the October 2023 attack by Hamas on Israel that triggered the Gaza war. Critics say the demonstrations have generated hostility and become a focus for antisemitism.
Protesters have argued they are exercising their democratic right to spotlight ongoing human rights and political issues related to the situation in Gaza.
Starmer said he was not denying there were “very strong legitimate views about the Middle East, about Gaza,” but many people in the Jewish community had told him they were concerned about the repeat nature of the marches.
Asked if the tougher response should focus on chants and banners, or whether the protests should be stopped altogether, Starmer said: “I think certainly the first, and I think there are instances for the latter.”
“I think it’s time to look across the board at protests and the cumulative effect,” he said, adding that the government needed to look at what further powers it could take.
Britain raised its terrorism threat level to “severe” on Thursday amid mounting security concerns that foreign states were helping fuel violence, including against the Jewish community.
“We are seeing an elevated threat to Jewish and Israeli individuals and institutions in the UK,” the head of counter-terrorism policing, Laurence Taylor, said in a statement, adding that police were also working “against an unpredictable global situation that has consequences closer to home, including physical threats by state-linked actors.”
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War Likely to Resume After Trump’s Rejection of Latest Proposal, Says IRGC General
Iranians carry a model of a missile during a celebration following an IRGC attack on Israel, in Tehran, Iran, April 15, 2024. Photo: Majid Asgaripour/WANA (West Asia News Agency) via REUTERS
i24 News – A senior Iranian military figure said that fighting with the US was “likely” to resume after President Donald Trump stated he was dissatisfied with Tehran’s latest proposal, regime media reported on Saturday.
The comments of General Mohammad Jafar Asadi, one of the top Islamic Revolutionary Guard Corps (IRGC) commanders, were relayed by the Fars news agency, considered as a mouthpiece of the the powerful paramilitary body.
“Evidence has shown that the Americans do not not adhere to any commitments,” Asadi was quoted as saying.
He further added that Washington’s decision-making was “primarily media-driven aimed first at preventing a drop in oil prices and second at extricating themselves from the mess they have created.”
Iranian armed forces are ready “for any new adventures or foolishness from the Americans,” he said, going to assert that the Iran war would prove for the US a tragedy comparable with what was for Israel the October 7 massacre.
“Just as our martyred Leader said that the Zionist regime will never be the same as before the Al‑Aqsa Storm operation [the name chosen by Hamas leadership for the October 7, 2023 massacre in southern Israel], the United States will also never return to what it was before its attack on Iran,” he said. “The world has understood the true nature of America, and no matter how much malice it shows now, it is no longer the America that many once feared.”
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Trump Says US Navy Acting ‘Like Pirates’ to Carry Out Naval Blockade of Iranian Ports
A view of Iranian-flagged cargo ship M/V Touska as the US Navy Arleigh Burke-class Aegis guided missile destroyer USS Spruance conducts its interception in a location given as the north Arabian Sea, in this screen capture from a video released April 19, 2026. Photo: CENTCOM/Handout via REUTERS
President Donald Trump said on Friday the US Navy was acting “like pirates” in carrying out Washington’s naval blockade of Iranian ports during the US and Israel’s war against Iran.
Trump made the comments while describing the seizure by US forces of a ship a few days ago.
“We took over the ship, we took over the cargo, we took over the oil. It’s a very profitable business,” Trump said in remarks on Friday evening. “We’re like pirates. We’re sort of like pirates but we are not playing games.”
Some of Tehran’s vessels have been seized by the US after leaving Iranian ports, along with sanctioned container ships and Iranian tankers in Asian waters.
Iran has blocked nearly all ships passing through the Strait of Hormuz apart from its own since the start of the war. Trump has imposed a separate blockade of Iranian ports.
The US and Israel attacked Iran on February 28. Iran responded with its own strikes on Israel and Gulf states that host US bases. US-Israeli strikes on Iran and Israeli attacks in Lebanon have killed thousands and displaced millions.
The war has raised oil prices and led to the blockade of the Strait of Hormuz, a chokepoint for about 20 percent of global oil and liquefied natural gas shipments.
Trump, who has offered shifting timelines and goals for the war that remains unpopular in the US, has faced widespread condemnation over his comments on the conflict, including when he threatened to destroy Iran’s entire civilization last month.
Many US experts said last month that American strikes on Iran may amount to war crimes after Trump threatened to target civilian infrastructure.