Israel’s central bank raised interest rates today in response to inflation in the country.
The Bank of Israel raised its rate by 0.75% to 2%. The financial institution said it is bullish on the economy’s overall growth, noting that gross domestic product grew 6.8% in the second quarter of 2022. However, the bank said that inflation was 5.2% over the past 12 months, which prompted the decision to hike rates, according to a press release.
