The Cabinet is expected to vote on the nomination of Amir Yaron as Governor of the Bank of Israel on Sunday, the Prime Minister's Office reported.
Israeli born Yaron, 54, a professor at Wharton School at the University of Pennsylvania, who has lived in the United States for two decades, chose Prime Minister Benjamin Netanyahu last month. Karnita Flug, whose five-year term ended this week, will succeed. Nadine Baudot-Traitenberg, Deputy Governor of the Bank of Israel, assumed duties as the acting duty officer.
Yaron cleaned a key hurdle last week by gaining approval from a special committee to check the government, who said he had not found any mistakes with Yaron's character.
It is expected that the cabinet will approve the nomination and make it a key governor for the economy of Israel. With inflation, which is now within the government's goal, policy makers are beginning to increase interest rates somewhere in the first quarter of 2019.