BOI Economic Data

Step 1: Identify the Data Type

Ask the user what economic data they need:

Step 2: Fetch Data from BOI API

The Bank of Israel provides public data via REST API at data.boi.org.il:

Exchange Rates (Sha'ar Yatzig):

GET https://edge.boi.gov.il/FusionEdgeServer/sdmx/v2/data/dataflow/BOI/EXR/1.0?startperiod={date}&endperiod={date}

Interest Rate:

GET https://edge.boi.gov.il/FusionEdgeServer/sdmx/v2/data/dataflow/BOI/IR_INTEREST/1.0

Use scripts/fetch_boi_rates.py for simplified data fetching.

Step 3: Process Exchange Rate Data

BOI publishes representative exchange rates (sha'ar yatzig) daily:

Key points:

• Representative rate published once daily at ~15:30
• Used as official rate for tax calculations, contracts, financial reporting
• Weekend and holiday rates use last published rate
• For intraday rates, use forex platforms (BOI rate is indicative)

Step 4: Analyze CPI Data

The Consumer Price Index (Madad HaMchirim LaTzarchan) from CBS:

CPI uses:

• CPI-linked bonds (Galil): Index-linked government bonds adjust by CPI
• Rent adjustments: Many Israeli leases are CPI-linked (tzmud madad)
• Tax brackets: Updated annually by CPI
• Alimony and legal judgments: Often CPI-linked

Step 5: Track Interest Rate Decisions

BOI Monetary Committee sets the interest rate:

Historical context helps interpret current decisions. Use scripts/fetch_boi_rates.py --interest-history for recent rate changes.

Step 6: Combine Data for Analysis

Cross-reference multiple data points for comprehensive analysis:

1. Mortgage planning: Interest rate + CPI trend + exchange rate outlook
2. Business planning: Exchange rate + CPI for cost projections
3. Investment analysis: Bond yields + inflation expectations
4. Import/export pricing: Exchange rates + CPI for contract negotiations

Example 1: Current Exchange Rate

User says: "What is today's dollar-shekel exchange rate?" Actions:

1. Run python scripts/fetch_boi_rates.py --currency USD
2. Display representative rate (sha'ar yatzig) with date
3. Note: Rate published at ~15:30, before that yesterday's rate applies Result: Current USD/NIS representative rate with context

Example 2: Interest Rate Impact

User says: "What is the current BOI interest rate and how does it affect mortgages?" Actions:

1. Run python scripts/fetch_boi_rates.py --interest
2. Show current rate and recent history
3. Explain: Variable-rate mortgages (mashkanta priim) directly affected
4. Note: Fixed-rate mortgages set at time of signing, not affected by changes Result: Interest rate with mortgage impact analysis

Example 3: CPI Trend for Rent Adjustment

User says: "My lease says rent adjusts by CPI. How much did it go up?" Actions:

1. Determine: Lease start date and adjustment period
2. Fetch: CPI values for start and current period
3. Calculate: Percentage change = (CPI_current - CPI_base) / CPI_base * 100
4. Apply: New rent = original_rent * (1 + percentage_change / 100) Result: Exact CPI adjustment with new rent calculation

Scripts

• scripts/fetch_boi_rates.py -- Fetches Bank of Israel data: exchange rates, interest rates, and CPI. Run: python scripts/fetch_boi_rates.py --help

References

• references/boi-api.md -- Bank of Israel API endpoints (SDMX format), authentication, rate limits, and data structure. Consult when building integrations or troubleshooting API calls.

Error: "BOI API returned empty data"

Cause: Querying for weekend/holiday date when no rate was published Solution: BOI publishes rates on business days only (Sunday-Thursday). For Friday/Saturday, use the last published rate (Thursday). Use the API date range query to get the most recent available rate.

Error: "CPI data not yet available"

Cause: CBS publishes CPI around the 15th of the following month Solution: If current month's CPI is not available, use the latest published index. Check CBS publication calendar for exact release dates.

Error: "Exchange rate seems stale"

Cause: Using representative rate before daily publication time Solution: BOI representative rate is published at ~15:30 Israel time. Before that, the previous day's rate is the official rate. For intraday indicative rates, use bank or forex feeds.