Israel bank interest raised for first time in 7 years

The Bank of Israel raised its benchmark interest by 0.15 basis points to 0.25 percent on Monday in a decision announced by acting Governor Nadine Baudot-Trajenberg a month before the incoming Governor Amir Yaron takes over. This is the first rate hike since June 2011 and first rate change since March 2015. The acting governor told reporters that the change came amid slightly quickening inflation and marginally slowing economic growth, although growth is still “handsome” and inflation has stablilized.