Bank of Israel governor urges government to form monitoring panel
Bank of Israel
The Bank of Israel was created by the Ministry of Finance in 1948 as the state’s central bank. It is charged with managing the monetary policy of the state and providing economic conditions to promote growth and success, but the government retains control over inflation targets as part of its economic policy.
In order to clearly define the relationship between the Bank of Israel and the government and to ensure the independence of the central bank, the Bank of Israel Law was passed in 1954, officially establishing the Bank of Israel, and the bank’s headquarters was established in Jerusalem.
The Governor of the Bank of Israel has a role in advising the government and in shaping monetary policy in the country. In accordance to Knesset law, the Bank of Israel conducts research by monitoring and analyzing developments in the Israeli economy and submits its results in the Bank of Israel’s Annual Report.
Another important aspect of the Bank of Israel is its role in the foreign currency market. By monitoring and assessing developments in Israel’s foreign currency market, the Bank of Israel conducts the exchange rate policy and publishes the representative exchange rate of the New Israeli Shekel against foreign currencies.
The current Governor of the Bank is internationally renowned economist Stanley Fischer. With Fischer’s guidance, the Bank of Israel helped the Israeli economy overcome the global economic downturn quicker than other Western nations, and his policies are credited with helping the Israeli economy continue to grow.
Governor Flug faults Knesset legislation, responds to Kahlon's attack on central bank official
Sales down 7% on equivalent period in 2016, with number of homes bought as investments down 3%
But Hedva Ber is looking at the symptom and ignoring the disease: the banks’ shaky corporate governance, their political power and the regulators’ fear to confront them
Option would solve problem she faces selling half her Hapoalim stake and earn her richer return on investment
The fund will be invested abroad to avoid a major influx of foreign currencies that could strengthen the shekel and undermine export industries.
Governor Karnit Flug says tax windfall should be used to boost government’s low levels of education, infrastructure spending.
The country's largest lender will take 890 million shekels in charges mainly on loan losses and the U.S. tax probe.
Market bets that Bank of Israel won't intervene to stem the decline as Euro falls to lowest since 2001 and dollar to lowest since 2014.
The percentage of older people working increased significantly over the past 10 years because the retirement age has been gradually increased.