Pod Save America Hosts Call on Democrats to Cut All Israel Military Aid, No Longer Accept AIPAC Funding
Jews, Israelis Targeted in Austria Amid Surge in Antisemitic Incidents; Local Jewish Community Calls for Action
‘All of Our Strength’: Over 1,000 Pro-Israel Activists Gather in DC for Solidarity Conference
‘Devastated’: Wesley LePatner, Killed in Manhattan Mass Shooting, Was a Jewish Communal, Philanthropic Leader
Sen. Angus King Vows to No Longer Vote for Israel Military Aid Until Gaza Conditions Improve
Europe Won’t Pressure Israel to ‘Commit Suicide’ Amid Gaza Backlash, Palestinian State Push, Says Israeli FM
Israel’s National Soccer Coach Attacked in Athens Before Soccer Fans Chant ‘F–K Israel, Free Palestine’ at Match
New York Judge Sentences Neo-Nazi to 5 Years for Livestreaming Bomb Threats Against Jewish Hospitals
US Pressures Lebanon to Issue Cabinet Decision to Disarm Hezbollah Before Talks Continue
UK Plans to Recognize Palestinian State in September Unless Israel Meets Conditions, Starmer Says
Bank of Israel Raises Interest Rate by 0.5 Percent in Bid to Curb Inflation
Error: Contact form not found.
by JNS.org
Israeli bank notes. Photo: Pixabay.
JNS.org – The Bank of Israel on Monday announced it would raise the interest rate by 0.5 percent, to 1.25 percent, as part of its efforts to curb rising inflation.
The bank said its Monetary Committee made the decision after inflation in Israel crossed “the upper bound of the target range, at 4.1 percent over the past 12 months.”
“With that, it remains significantly lower than in most advanced economies,” the bank qualified in its statement.
Looking ahead, the bank said that it expected inflation to return to “within the target” range in 2024, and then the following year it would have “converged back to the midpoint of the range.”
The statement noted that while economic activity in the country remains at a “high level,” a downturn is possible in view of the effects of the war in Ukraine and the slowdown in manufacturing in China, as well as the political uncertainty in Israel.
