Israel's cabinet approves Amir Yaron as central bank chief
(Adds start date, background)
JERUSALEM, Nov 18 (Reuters) - Amir Yaron, a professor at the
Wharton School of the University of Pennsylvania, looks set to
be the next governor of Israel's central bank after the Israeli
cabinet approved his nomination on Sunday.
The final decision lies with Israeli President Reuven
Rivlin, who is widely expected to back the nomination of
The economist is Prime Minister Benjamin Netanyahu's choice
for the post and would succeed Karnit Flug, whose five-year term
ended last week.
Yaron has lived in the United States for two decades. He
cleared a special vetting panel earlier in November and would be
sworn in on Dec. 24, the Bank of Israel said in a separate
Deputy governor Nadine Baudot-Trajtenberg is currently
acting governor and will head the monetary policy committee
meeting on interest rates on Nov. 26.
"I am aware of the heavy responsibility placed on my
shoulders, and I will do all in my power to fortify the strength
and continued growth of the Israeli economy," Yaron, 54, said in
"I am excited to return to Israel after the years I spent in
the United States pursuing my academic work, and I view this
position as the pinnacle of my professional career."
With inflation now inside the government's target of 1 to 3
percent, central bank policymakers are forecast to start raising
interest rates in the first quarter of 2019.
(Reporting by Steven Scheer
Editing by Tova Cohen and Susan Fenton)
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