Israel continues tightening as inflation persists

The Bank of Israel
Photo: David Vaaknin

The Bank of Israel ordered its eighth straight increase in the policy rate on February 20, a 50 basis point rise to 4.25%.

The increase prompted a complaint from Israel’s foreign minister, who tweeted that the decision had “no justification”. The prime minister and the finance minister took to social media to defend central bank independence.

The central bank’s monetary policy committee said inflation was 5.4% in January, and core inflation was 5.1%. The Bank of Israel’s inflation target range

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