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Monday, October 3, 2022
From the Liveblog of
Monday, October 3, 2022
In bid to battle inflation, Bank of Israel hikes interest to highest rate in 11 years
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Illustrative photo of the new 100 Israeli Shekel bill. December 31, 2017. (Nati Shohat/Flash90)
In its ongoing campaign against inflation, the Bank of Israel announces its fifth consecutive interest rate hike.
The interest rate is rising 0.75 percentage points to now stand at 2.75%, the highest figure since 2011.
In a statement, the bank notes that inflation in Israel is at 4.6% over the past 12 months.
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