Bank of Israel justifies rate hike
Minutes from the Bank of Israel's broad and narrow forum discussions released on Monday explains the reasoning behind the central bank's 25 basis point rate hike last month.
On January 24, the central bank said it would increase the interest rate for February by 0.25bp to 2.25%.
The minutes of the discussions that took place on January 23 and 24, 2011 outlined four reasons behind the rate hike. It said the rapid growth in the fourth quarter of 2010 and the renewed acceleration in house prices
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