The central bank held its benchmark rate at 4.75% – its highest level since late 2006. It had raised rates 10 straight times in an aggressive tightening cycle that has taken the rate from 0.1% last April before pausing in July and again in August.
The inflation rate eased to 3.8% in September from 4.1% in August to remain above an annual target range of 1-3%.
Officials have cautioned that steep rate cuts at the moment would further weaken the shekel that is already at an 8 1/2 year low versus the dollar and push up inflation.
Source: Economy - investing.com
