Bank of Israel set to increase interest rates soon
Central bank points out inflation expectations have increased
The Bank of Israel (BoI) will start to increase interest rates in the coming months, the institution said after its monetary policy meeting today (February 21).
The monetary policy committee kept interest rates unchanged at 0.1%. Nonetheless, it stressed that inflation is around the “upper bound of the target range”, inflation expectations have increased, and the Israeli economy is recording strong growth despite the Covid-19 Omicron variant.
“The committee’s assessment therefore is that in
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