Bank of Israel hikes rate by 0.5%

Published date21 November 2022
Publication titleGlobes (Rishon LeZion, Israel)
After two successive hawkish 0.75% hikes last month and in late August, the Bank of Israel Monetary Committee this time opted for a more moderate 0.5% rise, although some analysts had expected a 0.75% hike again. The Israeli central bank is striving to tackle inflation, which has been running at more than 5% over the past 12 months in Israel. Although this is well below inflation in the US and in many European countries, it is still worrying

The Bank of Israel said, "The Israeli economy is recording strong economic activity, accompanied by a tight labor market and an increase in the inflation environment. The Committee has therefore decided to continue the process of increasing the interest rate. The pace of raising the interest rate will be determined in accordance with activity data and the development of inflation, in order to continue supporting the attainment of the policy goals."

The Bank...

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