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Bank of Israel hikes key rate 1/2-point as inflation at 14-year high

03 Tháng Giêng 2023
Bank of Israel hikes key rate 1/2-point as inflation at 14-year high © Reuters. FILE PHOTO: The Bank of Israel building is seen in Jerusalem June 16, 2020. REUTERS/Ronen Zvulun

JERUSALEM (Reuters) - The Bank of Israel on Monday raised its benchmark interest rate by half a point, the seventh straight meeting it has increased rates to try to curb inflation that remains above 5%.

The central bank lifted its key rate to a 14-year high of 3.75% from 3.25%. In April, policymakers began raising the rate from 0.1% and have been aggressive during a front-loading process, but most analysts believe the tightening cycle is close to over.

Despite the rate hikes, Israel's annual inflation rate rose to a 14-year high of 5.3% in November from 5.1% in October - well above the government's 1%-3% annual target range and fuelling public anger at spiking living costs.

At the same time, Israel's economy grew an annualised 1.9% in the third quarter from the second quarter, slower than a 7.4% pace the prior three months.

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26-09-2023 10:25:02 (UTC+7)

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 USD/JPY148.90Sell
 AUD/USD0.6422↑ Sell
 USD/CAD1.3477↑ Buy
 EUR/JPY157.60↑ Buy
 EUR/CHF0.9666Neutral
 Gold1,932.45↑ Buy
 Silver23.233Neutral
 Copper3.6768↑ Buy
 Crude Oil WTI89.47↑ Sell
 Brent Oil91.60↑ Sell
 Natural Gas2.890↑ Sell
 US Coffee C148.23↑ Sell
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Cập nhật lúc 10:21:30 26/09/2023
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