Bank of Israel makes first rate hike since 2018
Above-target inflation and tight labour market require a “gradual” tightening process
The Bank of Israel (BoI) increased interest rates for the first time since 2018 after its policy meeting on April 11.
Above-target inflation and a tight labour market call for a “gradual” policy tightening, the central bank argued. In March, inflation increased year on year by 3.5%, over the upper limit of its 1–3% target.
“The Israeli economy is recording strong growth, accompanied by a tight labour market and an increase in the inflation environment,” said the policy statement. The BoI
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