Bank of Israel holds key interest rate

Central bank says focus is on stabilising markets as war in Gaza continues

bank-of-israel3
The Bank of Israel
Photo: David Vaaknin

Israel’s central bank announced today (August 28) that it was holding its key interest rate at 4.5%.

The Bank of Israel said its decision – the fifth consecutive rate hold – was aimed at stabilising markets and reducing uncertainty as the war in Gaza continues.

The bank said annual inflation had reached 3.2% in July, compared with 2.9% in June. The target range is 1–3%.

The Bank of Israel said forecasters have projected inflation will be above the upper end of the target over the coming months. It

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