Bank Of Israel Battles Inflation With 0.4 Point Rate Hike

May 25, 2022 · 54s
Bank Of Israel Battles Inflation With 0.4 Point Rate Hike
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The Bank of Israel raised its benchmark interest rate by a bigger-than-expected 0.4 percentage points continuing its aggressive battle against rapidly rising inflation amid strong economic growth. The central bank...

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The Bank of Israel raised its benchmark interest rate by a bigger-than-expected 0.4 percentage points continuing its aggressive battle against rapidly rising inflation amid strong economic growth.
The central bank lifted its key rate to 0.75% from 0.35%. In April, policymakers had raised the rate from 0.1% an all-time low where it had stayed for the prior 15 decisions since a 0.15 point reduction at the outset of the COVID-19 pandemic.
The Bank added that the pace of rate hikes will be based in accordance with activity data and the development of inflation.
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Author Africa Business Radio
Organization Africa Business Radio
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