Israel raises rates again as central bank expects inflation

Housing prices are also on the rise in Israel, and interest rates are now at their highest levels since 2008.
This picture taken on Aug. 23, 2022 shows a view of the exterior of the headquarters of the Bank of Israel, the country's central bank, in Kiryat Ben-Gurion in Jerusalem.
This picture taken on Aug. 23, 2022 shows the headquarters of the Bank of Israel, the country's central bank, in Kiryat Ben-Gurion in Jerusalem. - AHMAD GHARABLI/AFP via Getty Images
Al Monitor: The Pulse of the Middle East
Al-Monitor Staff

Israel’s central bank raised interest rates again Monday. 

The Bank of Israel’s Monetary Committee raised its interest rate by 0.5 percentage points to 3.75%, citing inflation, among other reasons. This is the highest interest rate in the country since 2008, and constitutes the seventh consecutive rate hike since the bank started raising rates last year. 

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