The Bank of Israel has decided to pause interest Rate Hikes after a year of increases in response to inflation. The central bank will keep interest rates at 4.75%, citing moderating inflation. However, inflation remains above the bank's target range of 1-3%, indicating potential future rate hikes. The Bank of Israel predicts a decrease in GDP growth in 2023 compared to 2022 and warns of decreasing job vacancy rates. The next decision on interest rates will be made on September 4th.

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