Financial markets and instruments have also become increasingly complex and in some cases occasionally opaque. Ensuring that financial instruments and firms are sufficiently transparent can contribute to greater efficiency and awareness of risks exposures. The third principle I will stress is the role that market forces can play in effectively controlling risk-taking and enhancing supervision. Simplicity Let me begin with simplicity.
I would like to re-state that the Bank of Israel has three objectives that inform our policy decisions. The first, and classic, objective, which is so relevant to the State of Israel from an historical standpoint, is obviously price stability.