75-Basis Point Bank of Israel Interest Rate Hike

October 4, 2022

The Bank of Israel yesterday unveiled a 75-basis point hike of its policy interest rate to 2.75%. That followed a similar-sized hike in August and brought the amount of cumulative increase to 265 basis points since April. The new 2.75% rate level is its highest in almost 11 years. Israeli CPI inflation fell 0.6 percentage points to 4.6% in August but remains above the 3% target. A statement leaves little doubt that more rate hikes are coming.

Copyright 2022, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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