The Monetary Committee is examining the frequency of monetary policy decisions

In recent weeks, the Bank of Israel Monetary Committee has been examining the possibility of changing the frequency of interest rate decisions, which currently take place once a month.
 
In the past two years, a number of central banks have reduced the frequency of monetary policy decisions.  Among others, the ECB, the Bank of England and the Bank of Japan have transitioned from monthly decisions—twelve or more decisions per year—to a twice quarterly frequency—eight decisions per year.  As part of the Bank of Israel’s examination, the potential implications of a transition to eight policy decisions per year are being assessed.
 
A change in the frequency of interest rate decisions may require adjustments in the banking corporations’ IT systems.  As such, the Bank of Israel has approached the banking corporations to obtain an assessment from them regarding the ramifications of such a change in that context.
 
Should a decision be reached to change the frequency of the decisions, the Bank of Israel will notify  the public a few months before the change comes into effect.