Bank of Israel Governor Amir Yaron will stay on for a second five-year term after Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich agreed on an extension, removing a major market uncertainty that has lasted much of the year.
The decision to extend Yaron’s time in charge of the central bank comes as Israel has been fighting a war with Palestinian Hamas militants in Gaza for the past six weeks. It would be brought to cabinet for a vote at its next meeting, Netanyahu and Smotrich said in a joint statement.
“Governor Yaron accepts the request to serve for another term,” the central bank said.
Yaron thanked Netanyahu and Smotrich for their confidence in him and the Bank of Israel.
Read More : Bank of Israel’s Yaron Secures Second Term, Maintains Leadership Role