Prof. Michel Strawczynski, Director of the Bank of Israel Research Department and member of the Bank of Israel Monetary Committee, notified the Bank of Israel Governor that he wishes to step down from his position on December 31, 2022, following his five-year term, so that he can continue his academic activity at the Hebrew University of Jerusalem.  The Governor will appoint a search committee to complete an orderly process of finding a replacement for this significant position.


Prof. Strawczynski has emphasized quality and depth of research, while conducting research that is relevant and supports the design of monetary policy and economic advice to the government.  During his term, the Research Department submitted one of the most comprehensive reports to the government, covering the policy measures necessary to ensure the long-term increase in the level of productivity in the economy.  Under his management, the Research Department made significant contributions to the formulation of the fiscal assistance program and advancing ground-breaking monetary tools during the COVID-19 crisis.  In addition, Prof. Strawczynski strengthened the Bank of Israel’s working relationships with research departments at other central banks and research institutions in Israel and around the world.


In addition to being a member of the Bank of Israel’s Monetary Committee, as part of which he contributed much to the depth of the discussions and the quality of the decisions that were made, Prof. Strawczynski was a member of a number of interministerial committees and working teams.  Among these, he and the Director General of the Ministry of Finance cochair the committee on implementing the Increasing Competition and Reducing Concentration in the Banking System Law.


Prof. Michel Strawczynski: “I am very pleased to have contributed from my administrative and research experience and to take part in the team leading the Bank.  Public work is an immense challenge and responsibility, and I worked with all my strength to achieve optimal results, particularly during the COVID-19 crisis.  Special thanks to my colleagues, to the employees of the Research Department, and to Bank of Israel Governors Karnit Flug and Amir Yaron, for the trust they have given me in this position.”


Bank of Israel Governor Prof. Amir Yaron: “I would like to thank Michel for his service to the Bank of Israel.  His broad knowledge base in wide areas of economics, his unique insights as an expert in public policy, his many years of experience and impressive ability in leading the Research Department, were all assets to the Bank of Israel in the Monetary Committee’s decision-making and in the quality of our economic advice to the government.  I wish Michel success in his future endeavors, and I believe that with his return to academia, he will find the way to continue contributing from his knowledge and experience to the Israeli economy.”​​​​​​