Israel makes surprise hike on inflation fears

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Stanley Fischer, the governor of the Bank of Israel, on Monday raised rates for the second time in the past four months, bringing the key rate up to 1% beginning next month.

The decision confounded expectations that the central bank would hold, though a large minority of economists forecast a hike.

"The decision to increase the interest rate for December by 0.25 percentage points will help to establish inflation one year ahead firmly within the target range, after the effects of the non

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