Israel hikes benchmark rate by 0.75 pct amid efforts to curb inflation

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Israel hikes benchmark rate by 0.75 pct amid efforts to curb inflation

STORY: Israel hikes benchmark rate by 0.75 pct amid efforts to curb inflation DATELINE: Oct. 4, 2022 LENGTH: 0:01:27 LOCATION: Tel Aviv CATEGORY: ECONOMY SHOTLIST: 1. various of skyscrapers in Israel's economic center Tel Aviv 2. Governor of Israeli Central Bank Amir Yaron announces rate increase 3. Shopping mall in Tel Aviv 4. Governor of Israeli Central Bank Amir Yaron makes remarks 5. Streets view of Israel's economic center Tel Aviv STORYLINE: The Bank of Israel on Monday raised its benchmark rate by 0.75 percentage points from 2 percent to 2.75 percent. The sharp rate hike comes as Israel is trying to control its annual inflation, which fell to 4.6 percent in August from 5.2 percent in July, still well above the government target range of 1-3 percent. This is the fifth rate hike made by Israel's central bank since mid-April when the rate was as low as 0.1 percent, and the second consecutive 0.75-percent aggressive one after it did so in late August. The current basic rate is also the highe

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