ECB Keeps July Rate Options Open Amid Iran War Energy Price Risks 
RBA Expected to Hold Interest Rates at 4.35% as Markets Watch AUD/USD and ASX 200 
BOJ Signals More Rate Hikes as Inflation Risks Rise Amid Energy Price Pressures 
Indonesia Plans Higher Asset Yields to Boost Rupiah and Restore Investor Confidence 
RBNZ Holds Interest Rates Steady but Signals More Hikes Ahead in 2026 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
Jerome Powell Warns Against Politicizing the Federal Reserve, Defends Democratic Institutions 
BOJ Rate Hike Expected to Boost Yen, Impact USD/JPY and Nikkei 
RBI Hits Pause as Geopolitical Storm Clouds Gather 
The central bank of Israel is expected to retain its base rate at 0.10% on its rate decision scheduled next week.
The recent Fed rate hike caused the ILS to depreciate, and inflation rate is below the target at -0.9% year on year in November. At the same time, growth outlook of the economy seems weaker due to fall in exports. Therefore, the central bank is unlikely to take any risk of rate hike.
"While BoI has a dovish bias, we do not think it has the intention to move into negative rates at the moment. Meanwhile, BoI maintains its bias for a weaker ILS and we expect this to materialize when the interest rate differential widens in favour of US and USD strength resumes. We are long USDILS (target: 4.10, stop: 3.65, trade initiated on 25 June 2015)", says Barclays in a research note to its client.
