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Monday, February 20, 2023
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Monday, February 20, 2023
Foreign minister bashes Bank of Israel’s interest rate hike: ‘No justification’
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Foreign Minister Eli Cohen attends a press conference at the Prime Minister's Office in Jerusalem, January 25, 2023. (Yonatan Sindel/Flash90)
Foreign Minister Eli Cohen criticizes the Bank of Israel’s decision to further raise its key lending rate, bringing it to the highest level since 2008 amid rising inflationary pressures and a weakening currency.
“I asked my friend, Finance Minister Bezalel Smotrich, to put together a plan with the Bank of Israel governor to stop interest rate rises,” Cohen, a member of the ruling Likud party, writes on Twitter.
Arguing that inflation is moderating, Cohen charges “there was no justification for raising the interest rate today,” which he says will lead to further “abuse” of Israelis with mortgages.
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