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The Bank of Israel: the Ministry of Finance is trying to undermine the independence of the Central Bank for political reasons

In response to criticism from the Ministry of Finance, the Bank of Israel issued a statement in which he expressed regret that «published on an annual basis, a report containing in-depth professional analysis of the economic development of the country and economic policy of the government, provoked a storm of unbridled criticism from the Ministry of Finance».

The management of the Bank of Israel urges you to reject any attempt to prevent the Central Bank to provide valid and reliable information and professional analysis. The statement also urged «not to allow the use of the process of selecting the next President of the Bank of Israel to undermine the independence of the Central Bank and submission of its activities and accountability of political goals.»

Yesterday a press-service of the Ministry of Finance issued a sharp reaction to the criticism of the financial policy of the government by the Bank of Israel contained in the is presented today by the Central Bank the report for 2017.

«After 12 years of growth the Ministry of Finance managed to reduce housing prices, lower taxes and facilitate the growth of the Israeli economy. All this was done in spite of interference and obstacles from the Bank of Israel. Unfortunately, the Bank of Israel continues to pursue a policy that serves only certain groups of interested parties,» — said in a statement.

The Finance Ministry stated that the hard work of the Ministry in the last three years under the leadership of Moshe Kahlon possible to achieve the best in recent decades, economic results, despite the actions of the Bank of Israel.

The Bank of Israel: the Ministry of Finance is trying to undermine the independence of the Central Bank for political reasons 29.03.2018

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