April 25, 2024

Israel Pauses Interest Rate Cuts as Inflation Worries Stalk War Economy

Israel’s central bank left interest rates unchanged, opting against a second straight cut because of concern that inflation might accelerate again as the war against Hamas continues.

The monetary committee left the key rate at 4.5%, a surprise for most economists in a Bloomberg survey who had predicted a reduction of a quarter percentage point. The shekel initially pared losses after the announcement before trading 0.3% weaker against the dollar as of 5:30 p.m. local time.

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