PHOTO PHOTO – Israeli flutters outside Bank of Israel building in Jerusalem on August 7, 2013 REUTERS / Ronen Zvulun / File Photo
JERUSALEM (Reuters) – The Israeli government plans to vote for Amir Jaron's nomination for the Bank of Israel's governor on Sunday, the prime minister's cabinet announced on Thursday.
Israeli cousin Iaron (54), a professor at the Varton School of the University of Pennsylvania, who lived in the United States for two decades, chose Prime Minister Benjamin Netanyahu last month.
He would succeed Karnita Flug, whose five-year term ended earlier this week. Deputy Governor Nadine Baudot-Traitenberg assumed office as Acting Governor.
Iaron cleared the key obstacle last week by obtaining approval from a special committee to check the government, who said they had not found any defects with Charon's character.
The cabinet is expected to approve the nomination, making it the key governor for the economy of Israel, which grows at a solid annual pace of about 3.5 percent.
With inflation now entering the government's target of 1 to 3 percent, it is predicted that policymakers will begin to increase interest rates sometime in the first quarter of 2019.
The next tariff decision is scheduled for November 26.
Reporting by Steven Sher; Editing by Gareth Jones