The Bank of Israel implemented its first rate hike since 2011 today (November 26), in a move that caught markets off guard.
The monetary committee chose to raise the policy rate by 15 basis points to 0.25%, ending a period of extraordinarily low rates. The consensus forecast had been for rates to remain on hold at 0.1%.
Since incoming governor Amir Yaron is not due to take up the role until next month, interim governor Nadine Baudot-Trajtenberg presided over the meeting.
The central bank
- Demonetisation backer becomes new RBI governor
- Kohn ‘deeply’ worried Fed might not have support to fight next crisis
- Central banks turn to visual communication in 2018
- Book notes: Macroprudential policy and practice, edited by Paul Mizen, Margarita Rubio and Philip Turner
- Indian governor resigns after conflict with government