Israel's Fischer on economic stabilisation program

In a speech on 'The economic stabilisation program and its effect on the Israeli economy today' given on 30 June, Stanley Fischer of the Bank of Israel said the new law that we in the Bank of Israel propose clearly defines the independence required for a central bank, similar to the situation in other developed countries.

"But it is apparent to us that independence must go hand-in-hand with responsibility. The new law that we propose therefore also incorporates a clear system of decision-making

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