JERUSALEM, July 4 (Xinhua) -- 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.
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.
