Bank of Israel increases rates by 25bp to 4.75%
Central bank stresses inflation slowed down over the last three months
The Bank of Israel increased the policy rate by 25 basis points at its monetary policy meeting on May 22.
The main rate now stands at 4.75%, the highest level in 17 years. The policy statement pointed out inflation remains considerably over the 1–3% inflation target. It hit 5% in April.
Nonetheless, the monetary committee adds: “Looking at the past six months, and even more so over the past three months, the pace of inflation is lower than the year-on-year inflation.”
Inflation expectations
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