Bank of Israel holds rates ahead of budget approval
Decision follows rise in inflation, driven by tax rises to fund ongoing military operations
The Bank of Israel’s monetary policy committee on February 24 held its policy rate at 4.5% for its ninth consecutive meeting.
The decision to hold comes as Israel’s parliament, the Knesset, considers whether to approve the budget for the current financial year. The proposed package includes a range of tax rises and spending cuts as the authorities try to mitigate the impact on the economy from the wars with Hamas militants in Gaza and Hezbollah in Lebanon.
Annual headline consumer price inflation
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