BREAKING NEWS

Fischer: Bank supervision to continue 'with determination'

By JPOST.COM STAFF

NOVEMBER 30, 2010 17:07

Bank of Israel Governor Stanley Fischer said on Tuesday that if the steps taken by the bank and the government fail to curb the increase in housing prices, the bank will have to take additional steps.

He said the Bank of Israel received from the Finance Ministry and Central Bureau of Statistics conflicting data regarding the reduction in the rising cost of housing, and therefore have not formulated an opinion over whether the situation has stabilized.

Speaking at the annual meeting of the Association of Banks in Tel Aviv, Fischer said that as a lesson from the the global economic crisis, the supervision of banks and the tracking of the real estate market will continue with determination.

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