The cabinet is scheduled to be held on Sunday for the nomination of Israeli President Amir Yaron, the Office of the Prime Minister said on Thursday.
Israel, a 54-year-old Israeli-born Yaron, who was a professor at the Wharton School of the University of Pennsylvania for over twenty years in the United States, was elected last month by Prime Minister Benjamin Netanyahu. Karnit Flug, whose five-year mandate expired earlier this week, succeeded. Nadine Baudot-Trajtenberg, deputy governor of Israel, served as deputy governor.
Last week, Yaron was a major obstacle, receiving approval from a special government audit committee, indicating that he could not find any fault with the character of Yaron.
The cabinet is expected to ratify the nomination and make the governor a crucial time for the Israeli economy. Now that inflation is the target of the government, policymakers are expected to start raising interest rates in the first quarter of 2019.