Central Banks

Israel Kicks Off Year by Hiking Rates to Highest Since 2008

Inflation still above target despite multiple rate increases
Central bank approaches end of its monetary tightening cycle

WATCH: Bank of Israel Governor Amir Yaron discusses inflation, the economy and the shekel.Source: Bloomberg

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By Daniel Avis

January 2, 2023 at 5:00 AM UTC

Updated on

January 2, 2023 at 4:48 PM UTC

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Israel raised interest rates to their highest level since 2008 and signaled they’ll remain elevated for some time, leading global central banks expected to extend a monetary tightening cycle to tackle faster inflation.