Bank of Israel makes first rate hike since 2018

David Vaaknin

The Bank of Israel (BoI) increased interest rates for the first time since 2018 after its policy meeting on April 11.

Above-target inflation and a tight labour market call for a “gradual” policy tightening, the central bank argued. In March, inflation increased year on year by 3.5%, over the upper limit of its 1–3% target.

“The Israeli economy is recording strong growth, accompanied by a tight labour market and an increase in the inflation environment,” said the policy statement. The BoI

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