BREAKING NEWS

Fischer: More lands needs to be allocated for construction

By JPOST.COM STAFF

OCTOBER 11, 2010 11:50

Bank of Israel Governor Stanley Fischer on Monday expressed concern at the increase in apartment prices in Israel, Army Radio reported.

According to the report, Fischer said efforts should be made to halt rising prices because of supply and demand and therefore more land should be allocated for construction.

In response to a question about disagreements with Finance Minister Yuval Steinitz on foreign exchange market intervention, Fischer said: "At the last meeting I had with Steinitz, he did not argue with out plan to continue buying dollars."

He declined to offer his stance on what he thinks should be the representative rate of American currency.

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