50-Basis Point Israeli Central Bank Rate Hike Brings Cumulative Increase Since April to 315 Basis points
November 21, 2022
The Bank of Israel’s new policy rate now becomes 3.25%, an 11-year high after the sixth increase this year. The rate had previously been just 0.10% since a 15-basis reduction in April 2020 and maintained there for two years. Like many monetary authorities around the world, Bank of Israel officials are fighting above-target and increasingly entrenched inflation. At 5.1% in October, CPI inflation was a half percentage point higher than in the previous two months and just 0.1 percentage point from July’s 165-month high.
Copyright 2022, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Bank of Israel
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