No compromise on Bank of Israel law

ISRAEL - Parliament will be asked this week to approve a redefinition of the Bank of Israel's powers that the central bank opposes.

The Bank of Israel and Finance Ministry failed last week to reach a compromise over a ministry proposal that the central bank claims could compromise its independence and politicize monetary policy-making.

Bank of Israel Governor David Klein in a speech Thursday spelled out a number of critical changes in the proposed legislation. The text was provided by the Bank

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