Bank of Israel - Annual Report 2007

The Bank of Israel's new law should provide a firm legal basis for the central bank's independence, said Stanley Fischer, the governor of the central bank in its latest Annual Report.

The law should also clearly state the central bank's objectives and establish new mechanisms for decision-making and transparency. It should clearly specify the central bank's main purpose as the maintenance of price stability. Also, the law proposes that the central bank should support growth and employment, so

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