November 26, 2018 / 2:07 PM / 22 days ago

Bank of Israel raises key rate to 0.25, 1st hike since 2011

JERUSALEM, Nov 26 (Reuters) - The Bank of Israel, in a surprise move, raised its benchmark interest rate to 0.25 percent from 0.1 percent on Monday for its first increase in more than seven years, as inflation remained within its target of 1 to 3 percent.

Just two of the 12 economists polled by Reuters had forecast a rate hike, while 10 others had expected no change at the meeting, which was led by Deputy Bank of Israel Governor Nadine Baudot-Trajtenberg, who is acting central bank chief.

Reporting by Steven Scheer; Editing by Tova Cohen

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