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Economics

Israel’s Larger-Than-Expected Rate Hike Gives Shekel a Boost

  • Most economists predicted smaller rise than the hike to 0.75%
  • Bank suggests small rise in some wages impacted its decision
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Israel embarked on its first cycle of interest-rate hikes in more than a decade, raising borrowing costs more than forecast in response to above-target inflation and data showing an up-tick in wage increases.