Research has shown that decisions made by committees of experts are, on average, better than those made by one expert acting alone. The new Bank of Israel Law will establish two decision-making mechanisms – one in the policy area, and the other in the area of management of the Bank.
Moreover, the structural deficit has widened and is expected to continue to grow from a comparatively low level. We are currently at a crossroads in terms of the future of globalisation and Europe. A series of shocks hit the world economy over the past years – trade disputes, the COVID-19 pandemic, Russia’s invasion of Ukraine and geopolitical tensions.