Heritage Florida Jewish News - Central Florida's Independent Jewish Voice

Bank of Israel hikes interest rate to highest level since 2008

(JNS) — The Bank of Israel Monetary Committee has increased the country’s interest rate to 3.75 percent — representing a 0.5 percent rise, the central bank’s largest since 2008.

“Inflation in Israel is 5.3 percent over the past 12 months,” the Bank of Israel stated, reported Globes. “Economic activity in Israel remains strong, but the growth rate appears to have slowed relative to the first half of 2022.”

Since the Bank of Israel increased the rate from its all-time low of 0.1 percent to 0.35 percent in April 20...