Top Haredi MK slams extension of central bank governor’s term, saying he ‘hurt the weak’

United Torah Judaism MK Moshe Gafni lambasts the government’s decision to extend Bank of Israel Governor Amir Yaron’s tenure for a second term, calling it a “bad decision.”

Gafni, who chairs the Knesset Finance Committee, harshly criticizes Yaron’s tenure for “hurting the weak,” being “characterized by continuous interest rate hikes,” and putting a “terrible” burden on the public.

“He is not a good governor; he is a bad governor. The government is making a bad decision,” Gafni says. “The banks’ earnings are skyrocketing, and where does the money of the banks come from? From the young couples who take out mortgages. And I will do what is necessary to act on this matter.”

Gafni’s attack comes after Prime Minister Benjamin Netanyahu and Finance Minister Bezalel Smotrich last week agreed to extend Yaron’s tenure, which ends on December 23, for another five-year term, following months of speculation.

Leading economists, including former senior Bank of Israel and Finance Ministry officials, as well as financial market participants, who consider Yaron as a stabilizing figure, have in recent weeks been pressing the government to extend his term — even more so in view of the challenging war period.