New central bank chief takes office in Israel

JERUSALEM (AP) — The Bank of Israel’s new governor says the country’s financial stability should not be taken for granted in a period of “numerous changes in financial markets.”

Amir Yaron took office Monday following several weeks of volatility in Israeli and international markets. At a ceremony in the presence of Israel’s president, prime minister and other dignitaries, Yaron says his immediate challenge is “the normalization of monetary policy.” He says he views the interest rate as “the main and most effective tool” for directing such policy.

The University of Pennsylvania business school professor is an Israeli national who has taught banking and finance at the Wharton School since 2009. He replaces outgoing Bank of Israel Governor Karnit Flug, who recently concluded her five-year term.

The Western Journal has not reviewed this Associated Press story prior to publication. Therefore, it may contain editorial bias or may in some other way not meet our normal editorial standards. It is provided to our readers as a service from The Western Journal.

Truth and Accuracy

Submit a Correction →



We are committed to truth and accuracy in all of our journalism. Read our editorial standards.

Tags:
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Their teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. They provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press was the first private sector organization in the U.S. to operate on a national scale. Over the past 170 years, they have been first to inform the world of many of history's most important moments, from the assassination of Abraham Lincoln and the bombing of Pearl Harbor to the fall of the Shah of Iran and the death of Pope John Paul.

Today, they operate in 263 locations in more than 100 countries relaying breaking news, covering war and conflict and producing enterprise reports that tell the world's stories.
Location
New York City




Conversation