Government to reevaluate after banks propose own plans for better consumer terms next week; Bank of Israel governor had called proposal 'serious blow' to central bank independence

Central bank head urges Netanyahu to withdraw legislation that would force banks to pay interest on current accounts; bill to be brought to Knesset vote on Wednesday

Central bank chief instructs banks to fully pass on interest rates to deposit holders and come up with a plan to pay interest on the billions of shekels sitting in current accounts

Heritage Minister Amichai Eliyahu receives wide criticism for comments accusing Amir Yaron of 'sullying Israel's name abroad and harming the credit rating'

Consumer price index surprises with lower-than-expected monthly figure of 0.2% versus analysts' expectations of 0.5%-0.6%

Daniel Hahiashvili will replace Yari Avidan on June 22; sees his role as ensuring stability of banks while boosting competition and technological innovation

Bank of Israel head urges local banks to improve services by actively offering interest-bearing deposits to their customers

Central bank lifts borrowing costs by 25 basis points, citing inflation above 5% and a tight labor market; sees signs of moderation in economic activity

Yisrael Eichler says government power rests in hands of deep state and bureaucrats, who he compares to Russia's Putin; blasts failure of interest rate hikes to bring down inflation

Rise of more than double what was forecast sets up Bank of Israel for another interest rate hike next week, as central bank battles inflationary pressure, economists say