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MarketsCentral BanksBiggest Israel Rate Hike in Decades Springs Another SurpriseCentral bank raises its benchmark for fourth straight meetingInflation is at fastest in over a decade amid economic upswingByDaniel Avis and Gwen Ackerman+FollowAugust 22, 2022, 4:00 AM UTCUpdated onAugust 22, 2022, 3:31 PM UTCSign up for our Middle East newsletter and follow us @middleeast for news on the region.Israel’s central bank surprised most economists by delivering its biggest increase to interest rates in two decades, tightening monetary policy for the fourth straight meeting in the face of the fastest inflation since 2008.
