TEL AVIV — The Monetary Committee of the Bank of Israel raised interest rates by 0.5% on Monday. The decision by Bank of Israel Gov. Amir Yaron marked the eighth consecutive hike since April 2022, bringing it to 4.25% — the highest level since 2008.
The rate hike reflects the bank’s deep concern over the risk posed by rising inflation — now at a 20-year high of 5.4% — to Israel’s economy.
