(MENAFN- AzerNews)
By Trend
Israel's central bank raised on Monday the base interest rate
from 0.75 percent to 1.25 percent, according to a statement by the
central bank, Trend reports citing Xinhua .
The bank linked the rate increase decision to the rise in
inflation in Israel, which has reached 4.1 percent over the past 12
months, while the government has set an inflation target of 1 to 3
percent.
Home prices in Israel increased by 15.4 percent in the past 12
months alone, the bank noted.
'We are determined to return the inflation rate to within the
target,' said Bank of Israel Governor Amir Yaron.
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