These elements continue to this day to resist the abolition of the exchange-rate band, even though their reasons have changed and it is perfectly clear that it will be impossible to defend it should the need arise.
–  Those who did not like the by-product of the change under which the Bank of Israel acquired greater independence in managing monetary policy: the tradition in Israel is that changes in the exchange rate can be made only with the agreement of the Ministry of Finance, while changes in the interest rate can be made solely on the basis of the Bank of Israel’s decision.