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Bank of Israel raises interest rate by 0.5%

The Central Bank of Israel yesterday raised interest rates by 0.5% to 3.75%. Inflation rose to 5.3% in November, the highest level in 14 years, from 5.1% in October and above the government’s target of 1-3%.

Israel’s central bank raised interest rates for the seventh consecutive month since April 2022. It signaled that the outlook for further rate hikes will depend on economic and inflation data.

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