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Israel interest rates to continue upward trend

Battling growing inflation, the Bank of Israel has significantly raised the country’s interest rates twice in recent weeks.
Israel economy

The Monetary Committee of the Bank of Israel decided at its meeting on May 23 to raise the interest rate by 0.4 percentage points to 0.75%, the biggest jump since April 2011. Following this decision, the interest rate in Israel is now at its highest level since the start of 2014.

The bank stated that the coronavirus pandemic’s effect on the country’s economy has declined significantly, but other global developments are having a negative impact, in particular the Russian invasion of Ukraine and the slowdown in manufacturing activity in China.

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