Governor of the Bank of Israel in an economic review at the Finance Committee (Knesset Spokespersons)
The governor of the Bank of Israel, Prof. Amir Yaron, warned in an interview broadcast tonight (Wednesday) on the CNN network against the continued promotion of legal reform in Israel.
In a conversation with the economic commentator Richard Quest, Prof. Yaron said: "The changes in the justice system and the promoted reform can weaken the independence of the system. The process itself is hasty and the reform does not have broad acceptance in the public."
Regarding the threats of investors and companies to withdraw funds from Israel following the promotion of the reform, Yaron said: "We heard from several managers of high-tech companies that they intend to spend money. This is why we need to proceed with caution and the continued promotion of the reform has consequences. It is important that we continue to strengthen and stabilize the system."
Regarding the statements against the interest rate increases and the possibility that the independence of the Bank of Israel would be harmed, the governor clarified: "The independence of the Bank of Israel is vital and critical to the economy. Any move to harm the independence of the bank will lead to serious economic consequences. I hope that everyone who needs to understand this - understands. The Prime Minister himself and the Minister of Finance made it clear Because only the governor decides on the interest rate and the independence of the bank will be preserved."
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Amir Yaron
Benjamin Netanyahu
The legal revolution
Bank of Israel
