Bank of England Governor: We can expand foreign exchange buying

“We can expand the foreign currency purchase program,” said Bank of Israel Governor Amir Yaron yesterday evening, speaking before the Board of Trustees of Bar-Ilan University. His observation comes on the heels of yesterday’s report that the Bank of Israel has already implemented a quarter of its 2021 purchase program in January. “Thirty billion dollars is a big sum,” Yaron said, referring to the size of the previously announced plan to buy foreigners. Currency. “We are committed to spending this amount. To understand the scale of the plan, you can think about what will happen in the foreign exchange market if the current account surplus is smaller by that amount. Of course, it becomes appropriate, and in light of the economic and market conditions at that stage, we can expand the foreign exchange purchase program.” In the same way we announced the expansion of the quantitative easing program in government bonds. Related Materials The Investment Bank has already bought approximately 25% of its planned foreign exchange purchases for 2021. Israel’s fiscal deficit widened to 12.1% The Bank of Israel criticizes planned government grants Debt to Israel: GDP ratio jumps to 73%. The third closure in Israel was less tight than the previous one, based on Bank of Israel analysis of credit card purchases data from Automated Banking Services Ltd. In the case of the first two closings, a significant increase in credit card purchases could be observed only at the end of the close, while credit card purchases rose in the middle of the third close. In light of this development, in addition to the amazing progress that Israel has made in vaccinating the population on the one hand, and the high rate of infection on the other hand, Yaron said, “There is room to examine the use of the” green passport “, which is a certificate issued to people who have been vaccinated a week after The second dose, as a means to open up trade and maintain economic activity in a controlled manner. ” Posted by Globes, Israel business news – en.globes.co.il – February 8, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021