Israel's central bank chief to step down in November

MarketsAssociated Press

The governor of Israel's central bank says she will not be seeking another term in office.

Karnit Flug, chief of the Bank of Israel, says in a statement Friday: "I will end my tenure with a feeling of great satisfaction." Her five-year term ends in November.

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Flug says the bank has played a "marked role" in the robustness and stability of Israel's economy in recent years.

Flug said she notified Prime Minister Benjamin Netanyahu of her decision on Thursday.

Netanyahu issued a statement thanking Flug for her service, adding he "very much appreciates her contribution to the Israeli economy.