02.11.2009 Uncategorized No Comments

Criticism of the Bank of Israel, but is it fair?

There is a report today on the Globes online website which criticises the Bank of Israel and Stanley Fischer for not raising interest rates at their last meeting. The report can be seen here.

Whilst I agree with many of the sentiments in the article, I do not think the Bank of Israel really cares what anyone else thinks.

Remember a couple of months ago, Stanley Fischer the governor of the bank went against the majority vote and decided to keep interest rates on hold. Most countries around the world take the decision of the majority, but Israel is different and in particular its governor. He is not afraid to make bold decisions and stand by them.

Lets be honest, he has kept us out of reach of a deep recession and things are looking up here in Israel.

write your sentence her

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