Stanley Fischer: Israel Better off than Expected - News Briefs

(IsraelNN.com)

Israel is a relatively stable rock in the financial storm thrashing world markets, and the country is in good economic shape, Bank of Israel Governor Stanley Fischer said. "Certainly, Israel will be hit," he told Globes. "We live in the world and we're not an island, but our situation is relatively good, and better than I expected."

Fischer led the world last week in slashing the local prime interest rate by half percent, a move that European banks imitated in an effort to pump more money into their economies and stave off a threatening deep and long recession.

News Brief	Kislev 5, 5770 / November 22, '09