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Bank of Israel Holds Rates at 4.5% Amid Inflation Surge and Geopolitical Tensions
Bank of Israel Holds Rates at 4.5% Amid Inflation Surge and Geopolitical Tensions
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The Bank of Israel maintained its benchmark interest rate at 4.5% for an eleventh consecutive meeting, as inflation accelerated to 3.6% in April—breaching the central bank’s 1%-3% target range. First-quarter economic growth edged higher than expected at 3.4%, complicating policy decisions amid escalating military operations in Gaza.
Market analysts universally anticipate prolonged rate stability through 2024, with Bloomberg and Reuters surveys showing consensus among economists. The monetary policy standoff reflects balancing acts between inflationary pressures and war-driven economic uncertainty, with Hamas conflict repercussions distorting traditional indicators.
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