Israel unveils plan to limit central bank powers

ISRAEL - Israel's Finance Ministry unveiled legislation Sunday to rein in the power of the central bank, with a monetary council appointed by the finance minister and a widening of the bank's goals to include growth and employment targets.

The measures, which are backed by Prime Minister Ariel Sharon, were presented to the Cabinet Sunday and immediately prompted a backlash from the Bank of Israel.

At the heart of the reform package is a nine-member monetary council that would set Israel's disco