The Bank of Israel held its benchmark interest rate at 0.1% for an eighth straight meeting on Monday, citing a rapid economic recovery from the COVID-19 pandemic and expectations that inflation will continue to rise. "The opening of the economy and the return to normal life in Israel are expected to support continued rapid growth in the coming year," the central bank said, noting challenges remain regarding the labor market. "The committee will therefore continue to conduct a very accommodative monetary policy for a prolonged time," and use rates and other tools to support policy targets, it said. The bank's staff forecast the key rate will stay at 0.1% for the coming year, with economists widely expecting the next move to be a rate increase in 2022 or 2023. Source: Reuters 🇮🇱 IF YOU LOVE ISRAEL - SHARE NEWSRAEL! 🇮🇱