A Bank of Israel source claims that Rony Hizkiyahu's departure was not a surprise for Stanley Fischer.
Supervisor of Banks Rony Hizkiyahu will leave his post at the end of the year after four years, the Bank of Israel announced in a notice. It added that the governor will shortly announce the establishment of a search committee for a successor.
A source to Governor of the Bank of Israel Prof. Stanley Fischer told "Globes", "Hizkiyahu is competing a four-year term and wants to leave at the peak. It's important to remember that a lot was achieved in his term." The source added that Hizkiyahu's departure was planned, and was not sudden; Fischer has known about it for weeks.
During Hizkiyahu's term, especially the past year, he oversaw reforms, which some have called revolutionary, especially concerning the battle against Israel's real estate bubble, by restraining housing demand by tightening mortgage loans by banks, and other measures.
Published by Globes [online], Israel business news - www.globes-online.com - on July 29, 2010
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