In addition, the Bank indirectly removed just over $ billion from the system via the sales of foreign exchange to the banking system in the first eleven months of 2013.
Note that medium and long term inflation expectations have continued to be well anchored within the target band, thus giving credence to monetary policy. The importance of price stability, was reiterated in the renewed Bank of Israel Law in 2010, where it states that the Bank’s first role is to maintain price stability, while supporting economic growth and financial stability.