Israel's Fischer: house prices pose threat to financial system
Stanley Fischer, the governor of the Bank of Israel, on Thursday said inflationary pressures owing to the sharp rise in house prices may lead to a financial crisis if not addressed.
"Inflation expectations are high because the economy is converging to a state of full employment, and also because house prices are still increasing, while rentals have not yet reached the levels derived from current house prices," the governor said.
Fischer said inflation expectations showed that prices are expected
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