BREAKING NEWS

Bank of Israel stays on hold as inflation stabilizes

The Bank of Israel left interest rates unchanged for the seventh straight meeting on Monday, as inflation stemming from Israel's war with Hamas in Gaza and fighting with Hezbollah has held steady in the last two months.

All 13 analysts polled by Reuters had expected no rates move on Monday.

Israel's annual inflation held at a rate of 3.5% in October, remaining above the government's 1-3% target range after falling as low as 2.5% in February and hitting a 3.6% peak in August. In October central bankers warned of rate increases should inflation - mainly caused by war-related supply issues - stay lofty.