Knesset member Yizhar Shai of the Blue and White party has called upon banks not to raise interest rates. Speaking before the Knesset, Shai reminded the banks that 2019 was a year of spectacular profits for banks with earnings close to ten billion shekels.
"Speak with the governor of the Bank of Israel who supervises your banks and find a solution," Shai entreated the nation's bankers, noting that interest rates for loans and mortgages have risen between one-half and one percent in the wake of the coronavirus crisis.