Israel's Central Bank has been reputed as moribund with many of the
top positions frozen. The relation between the bank's union and the
previous governor were acrimonious and at one point the union
barricaded the Governonr's office. Prof. Fischer, according to
insider reports is addressing these issues and is making progress in
instituting changes.
Governor of the Bank of Israel Prof. Stanley Fischer: "The Israeli
economy has recorded average annual growth of over 4% over the past
eight quarters. Inflation is close to the target of 2% a year, there
is a small surplus in the balance of payments, and the flow of
foreign investment into Israel will almost certainly set a new record
this year."