Bank of Israel holds key interest rate
Central bank says focus is on stabilising markets as war in Gaza continues
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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