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Netanyahu orders his party to stop speaking against Bank of Israel governor

Middle East

22-02-2023 | 07:16

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Netanyahu orders his party to stop speaking against Bank of Israel governor

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Israeli Prime Minister Benjamin Netanyahu on Wednesday instructed lawmakers from his Likud party to stop interfering with and speaking out against Bank of Israel Governor Amir Yaron and his interest rate policies.

Netanyahu's rebuke, made public by a party spokesperson, came after his foreign minister criticized Bank of Israel interest rates hikes and other lawmakers voiced disapproval with Yaron for the rate hikes that have harmed mortgage holders.

Yaron has taken a hard line in battling inflation, which hit a new 14-year high of 5.4 percent in January. The central bank raised interest rates by half a percentage point at a policy meeting on Monday to 4.25 percent, its eighth hike since last April.

The governor has also warned lawmakers who have been pushing for judicial changes that could weaken the Supreme Court that institutional independence was vital for Israel's sovereign credit rating.

"Prime Minister Netanyahu ordered Knesset members of Likud to stop interfering and speaking on the issue of the governor," said a Likud spokesperson. "The independence of the Bank of Israel is a central pillar of the economic policy led by the Prime Minister for two decades and nothing will change that."

Israel

Prime Minister

Benjamin Netanyahu

Bank of Israel

Governor

Banks

Currency

Finance

Politics

Government

Economy

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