BIS central bankers’ speeches  1  With your inputs and support to the NSFI process –we look forward to seeing significant changes in these numbers. Ladies and gentlemen.
In the last two years we are gradually replacing these monetary auctions with treasury bills which will be our main instrument for conducting monetary policy vis-a-vis the market as a whole. Judging from the results, the outcome is rather satisfactory: •  Israel enjoys price stability. •  The foreign currency market functions smoothly, with relatively narrow spreads and low volatility.