Number of workers earning one million shekels or more grew 18 percent in 2018, Israel central bank says
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.
Annual economic growth topping 3 percent and a low debt-to-GDP ratio of 61 percent can’t help but impress, even if slower global growth is set to take a slight toll in Israel
Central bank warns of other risks from cyberattacks that need to be examined
Minutes from a meeting of the Monetary Committee reveal concerns about the shekel’s strength
The Bank of Israel's Banks Supervisor takes the most blame for generous credit terms to tycoons
Officials hope it will help lower loan costs for household while critics worry about a dangerous borrowing binge
A growing deficit will require the treasury to cut spending and/or raise taxes just as a global economic deceleration seems to be getting underway
An annual report by the Bank of Israel gives the former finance minister an F on the economy, pointing to loss of growth engines
Report places blame mainly on poor quality of schools, estimates wages could rise just by boosting Israeli skills to OECD average
Annual report scores government fiscal policy, warns overspending cannot continue at current levels
Study says changing demographics will weigh on the economy over next decades
Monetary panel signals no hike in base lending rate likely anytime soon
Officials scrambling for solution after Bank of Israel official says that three insurers financing the $690 million deal must get a control permit
The central bank also reduces its 2019 economic growth forecast to 3.4%, down from a previous prediction of 3.6%
GDP expanded 3.2%, but economists are mostly optimistic for 2019 amid expected higher government and consumer spending
Amir Yaron aims for middle ground between rapid rate rises and delaying them
Microsoft reportedly eyeing rival bid to Xilinx for Israel’s Mellanox ■ Elbit’s IMI Systems wins $200 million Pentagon contract ■ Government looks to coordinate crypto-currency regulations ■ Stocks snap three-session decline
The debt-to-GDP ratio has been improving since 2004, but the trends now aren’t favorable
Economists are praising the surprise decision by the Bank of Israel to hike its base rate for the first time in seven years
Inflation and economy figures fail to make compelling case for interest rate decision
More solid growth appears likely amid low joblessness and rising wages, so near-zero interest rates will become a thing of the past
The decision to raise the lending rate to 0.25% from 0.1% is made before Amir Yaron takes over as governor
Brookland Upreal tells bondholders it may not be able to repay debt in 2019 ■ Fallen tycoon Joseph Greenfeld reaches debt agreement ■ Mortgage lending profits at Israeli banks soared in first nine months
In an exit interview, Bank of Israel Governor Karnit Flug expresses satisfaction with her five-year term
Program spent $13.1 billion over five years to prevent an overly strong shekel
In an interview with TheMarker, Karnit Flug reviews past controversies and successes as she prepares to end her term as Bank of Israel governor
Super-Sol launches apparel shopping and travel websites ■ Citing market conditions, ECI Telecom delays London initial public offering ■ No need to raise interest rates yet, says deputy Bank of Israel governor ■ Shares post mild drop while bond prices slump on rate-hike fears
With 142 out of 155 branch closures approved, legislators decry banks that are allegedly leaving the poor, the elderly, the disabled, non-Hebrew speakers and the web-illiterate in the lurch
Economists predict the newly nominated bank governor, Amir Yaron, will be more hawkish than his predecessor, Karnit Flug
The answer lies in whether it was right to appoint the Wharton School’s Amir Yaron to run the central bank