M1 Money Supply (YoY)

The M1 Money Supply, released by Bank of Israel, measures the amount of money in circulation in notes, coin, current accounts, and deposit accounts transferable by cheque. It is considered an important indicator of inflation, as monetary expansion adds pressure to interest rates. Generally speaking, an acceleration of the M1 money is considered as positive (or bullish) for the ILS, whereas a decline is seen as negative (or bearish).