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BoI slows the pace of tightening as economy softens

The Bank of Israel slowed down the pace of tightening today with a 50bp rate hike, to 3.25%, as it emphasised the tightening delivered so far and the early signs that economic activity is slowing. We think it will end its tightening cycle early next year with just two more 25bp hikes, to 3.75%.

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