​Prof. Rafi Melnick, who has served on the Bank of Israel Monetary Committee as a member from among the public since the Committee was established, today ends his three-year term on the Committee.  Melnick, who has been simultaneously serving as Provost at the Herzliya Interdisciplinary Institute, will now depart for a sabbatical year abroad.

Bank of Israel Governor Dr. Karnit Flug said, “Prof. Melnick’s many years of knowledge of the Israeli economy, and his tremendous experience in analyzing market trends, combined with the depth of his knowledge in the fields of empirical research and literature, have enriched and deepened the Monetary Committee discussions, and have contributed to the quality of its decisions.  I would like to thank Rafi for his significant contribution to the work of the Monetary Committee.  Rafi will certainly continue to contribute to the study of the Israeli economy in the future.”

Prof. Rafi Melnick said, “I have had the good fortune to be involved in the implementation of the new Bank of Israel Law, at the center of which is the establishment of the Monetary Committee. Together with my colleagues on the Committee, I have been involved in making significant decisions during a challenging period for the Israeli economy in general and for monetary policy in particular. I was pleased to return to the Bank of Israel and to see anew the high professional level of the institution and its economists, to participate in the interesting discussions of the Committee, and to contribute to making decisions.  I thank Prof. Stanley Fischer, under whose leadership the Committee was established, and Dr. Karnit Flug, the current Governor of the Bank of Israel and Chairperson of the Committee, as well as the Committee members, for an inspiring and interesting period in which we worked together, and I wish the Committee success in its continued work.”