Israel
Israel debates monetary council for central bank
ISRAEL - The Knesset's Finance Committee will shortly be reopening discussion of a monetary council for the Bank of Israel, which would share some of the responsibilities belonging to the central bank governor, David Klein.
Bank of Israel - Annual Report 2001
ANNUAL REPORT - The Bank of Israel has published its Annual Report for the year ended 2001.
Israel's for ex reserve drop for 3rd month running
ISRAEL - Israel's foreign currency reserves dropped in September for the third month running, the Bank of Israel said today.
Bank of Israel governor leaves rate unchanged
ISRAEL - Key lending rates will remain unchanged at 9.1 percent in August, Bank of Israel governor David Klein announced Monday afternoon.
Israel's c bank chief criticizes inadequate budget
ISRAEL - Governor of the Bank of Israel David Klein says financial stability is not yet assured. Speaking before the Israel Democracy Institute's annual Caesarea conference, being held this year in Jerusalem, he said the task of restoring economic…
Update, B of Israel's Monetary Program, 9 June
PRESS RELEASE - The Bank of Israel today announced an update of its monetary program for June 2002, according to which its interest rate will be raised by 1.5 percent to 7.1 percent. The change will go into effect on Tuesday, 11 June 2002. Thus, the…
Shekel gains slightly on dollar despite rate hike
ISRAEL - The shekel strengthened only slightly on the dollar Monday, despite the Bank of Israel's surprise announcement a day earlier of a sharp hike in interest rates.
Flag protest
NETHERLANDS - The wife of the President of the European Central Bank hung a Palestinian flag from a second-floor balcony of their home here in protest against Israel's actions in the West Bank. Wim Duisenberg refused to comment on the stance taken by…
Frenkel accused of claiming funds not due him
ISRAEL - Israel's state audit office said on Monday former Bank of Israel Governor Jacob Frenkel, who stepped down in 2000 after nine years in office, had claimed thousands of dollars not due to him. A spokesman for Frenkel in Tel Aviv dismissed all the…
Klein to consider his position if c bank reformed
ISRAEL - Bank of Israel Governor David Klein says he'll have to consider his future if the Bank of Israel Law governing the central bank is revised according to the Finance Ministry's proposal it is reported.
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.
Israel sees no progress on central bank reform
ISRAEL - The Bank of Israel said Thursday that no significant progress had been made in reaching a compromise on the Finance Ministry's plan to amend the law governing the central bank.
Israel approves Bill to redefine c bank powers
ISRAEL - Israeli ministers have approved a bill that would redefine the Bank of Israel's powers, but allowed the finance ministry and central bank time to propose changes to the bill to resolve continuing disagreements.
Israeli cabinet OKs diluting cen bank chief power
ISRAEL - Israel's cabinet on Sunday approved sweeping changes to the way interest rates are set but analysts said the plans, which include setting up a monetary council, would weaken the central bank and harm the economy.
Rating agencies criticize c bank reform
ISRAEL - Three leading international credit rating agencies have criticized the Finance Ministry's plans for reining in the independence of the Bank of Israel, but stopped short of saying it would affect the country's credit rating, The Jerusalem Post…
Central bank independence should be preserved-IMF
UK - The IMF on Wednesday criticised moves in Israel and Poland to limit the independence of their central banks.
Israel unveils plan to limit central bank powers
ISRAEL - Israel's Finance Ministry unveiled legislation Sunday to rein in the power of the central bank, with a monetary council appointed by the finance minister and a widening of the bank's goals to include growth and employment targets.
Klein defends rate rise, attacks gov't policy
ISRAEL - Bank of Israel Governor David Klein Friday vigorously defended his recent rate hike and accused the government of having little interest in running the economy, reports Dow Jones.
Bank of Israel Press Release
PRESS RELEASE - Developments in the Foreign-Currency Market, 12 February.
Israeli regulators warn banks
ISRAEL - Israeli regulators warned commercial banks they looked to be inadequately covered against a surge in foreign-currency lending last year and urged them to tighten standards.
SocGen halt processing of checks from Israel banks
FRANCE - French bank Societe Generale SA (F.SGF) said Wednesday it has stopped accepting checks from its correspondent banks in Israel for a temporary period of two months amid the furore over an alleged money-laundering ring.
Bk of Israel say lawmakers try to politicise them
ISRAEL - Bank of Israel Governor David Klein accused legislators Thursday of trying to politicise the central bank with a bill that would water down his authority in setting interest rates.
Israel's regulatory easing
ARTICLE - Some $260 billion (290.39 billion euros) in Israeli financial assets is walled up inside the country by regulations, discriminatory taxes and investor conservatism, kept pacified by high domestic interest rates.
Bank of Israel head rules out intervention
ISRAEL - Despite the shekel's weakening to a record low against the dollar, Bank of Israel Governor David Klein said the central bank would not intervene in the foreign currency market.