The members of the Monetary Committee take the Law into account, as well as the way it is worded and the order of priorities among the various goals of the Bank of Israel. If we change this rule, we will have more inflationary periods and more recessionary periods.
There are enough things that need to be fixed in Israel, but regarding the Bank of Israel Law, I think that the saying “If it isn’t broken, don’t fix it,” is applicable. People who preceded me spoke about the issue of government efficiency. According to international surveys, the Israeli government is not the most effective government when compared internationally.