02.08.2011                      02.Aw-Elul, 5771

Notenbankchef:

Fischer 'surprised' by social protest, defends policy

Bank of Israel Governor says Israeli economy is in good shape; high prices are due to lack of competition.

"We were surprised by the protest because the Israeli economy is in good shape," said Bank of Israel Governor Stanley Fischer at a special press conference called in light of the public outcry against the cost of living.
The high cost of living was partially due to the highly concentrated economy, he said, calling on the special committee appointed to address this matter to check price differences between Israel and the rest of the world….