Monday , August 2 2021

UPDATE 1 – Israel's Cabinet approves Amir Yaron as the main central bank bank

(Adds start date, background)

JERUSALEM, November 18 (Reuters) – Amir Yaron, a professor at the Wharton School of Pennsylvania University, was determined to be the next governor of the central bank of Israel after the Israeli cabinet approved his nomination on Sunday.

The final decision is the President of Israel Reuven Rivlin, who is generally expected to return the Israeli Yaron nomination.

The economist is the choice of Prime Minister Benjamin Netanyahu for the job and he would succeed Karnit Flug, which ended his five-year term last week.

Yaron has lived in the United States for decades. A special examination panel cleared earlier in November and would be stolen on December 24, the Israeli Bank stated in a separate statement.

Deputy governor Nadine Baudot-Trajtenberg is currently acting as a governor and will lead the financial policy committee meeting at interest rates on November 26th.

"I am aware of the heavy responsibility placed on my shoulders, and I will do everything in my stage to strengthen the strength and continued growth of the Israeli economy," said Yaron, 54, in a statement.

"I am pleased to return to Israel after the years I spend in the United States following my academic work, and I look at this situation as the pins of my professional career."

With inflation now within the government target of 1 to 3 per cent, it is anticipated that central bank policy makers will raise interest rates in the first quarter of 2019. (Report by Steven Scheer Edited by Tova Cohen and Susan Fenton)

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