Treasury-central bank rift in Israel

ISRAEL - For the first time in decades, the Prime Minister's Office, the treasury and the Bank of Israel did not jointly publish the national forecast together with the publication of the 2003 budget. The disagreement is testimony to the difficult relations between these two institutions for quite some time.

Behind the non-publication of the national forecast for 2003-2006 are differences of opinion between the Bank of Israel and the treasury with regard to expected developments in the econom