news brief
Bank of Israel raises interest rate to 4.25%
The Bank of Israel's Monetary Committee decided yesterday to raise the interest rate by 0.5% to 4.25% – the highest since 2008 – to fight the pressure of rising inflation and a weakening shekel.
Inflation over the last 12 months is above the upper bound of the target, standing at 5.4%.
The committee also said that Israel’s GDP grew in 2022 by 6.5% and has been above the pre-crisis trend for the last five quarters.
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NEWS BRIEF
The All Israel News Staff is a team of journalists in Israel.
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