Central Banks
Israel Extends Record-Long Rate Hikes as Politics Hit Shekel
- Central bank delivers second straight rise of 25 basis points
- Deputy governor explains response to fallout of judicial plans
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Israel delivered an unprecedented 10th consecutive interest-rate hike, with a top central banker saying political uncertainty linked to a proposed judicial overhaul forced more tightening than first envisaged.
Policymakers on Monday signaled any future moves will be data dependent after bringing borrowing costs to their highest level since 2006 to cool inflation. The decision to raise the benchmark to 4.75% from 4.5% was in line with forecasts.