Bank of Israel Governor Stanley Fischer said on Monday that Israel's economy is well placed to weather the financial turmoil that has rocked world markets, due to its relatively conservative banking system. He said the closely-supervised Israeli banks have largely steered clear of risky investments and complex financial instruments that have burned banks elsewhere. Fischer added that the Israeli economic growth is expected to slow to 2.7 percent in 2009, compared to Israels 4.5 percent growth this year. 11/03/08
