Israel inches towards rate-setting board

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The Bank of Israel moved closer on Monday to the establishment of a Monetary Policy Committee after Israel's parliament voted in favour of the bill to reform the central bank.

Twenty-four out of a possible 120 members of the Knesset voted 22 to two in favour.

Yoav Soffer, an assistant spokesman for the Bank of Israel, told CentralBanking.com that the central bank hoped there wouldn't be any changes to the bill as it was. "The draft is the result of a lot of discussions with the ministry of finan

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