Israel raises the base interest rate to 4.5%, the highest rate in 16 years

The Central Bank of Israel announced today (Monday) that it will raise the main interest rate by 25 points, to reach 4.5%, as of April 7.

According to the statement issued by the Central Bank of Israel, this is the highest rate of the base interest rate in Israel since December 2006, while this increase is the ninth in a row.

The Bank raised the interest rate in Israel on an upward trajectory from 0.1 percent in April 2022 to the current level.

And the bank relied on this policy in an attempt to curb inflation , which reached 5.4% last January, the highest level in 12 months, before it fell to 5.2% last February.