Rising equity prices have allowed the Bank of Israel to successfully implement a riskier reserve management strategy since 2012, the director of the bank’s market operations department tells Central Banking.

“We’ve had a very good run on equities, it was probably a lot better than what we could have expected,” Andrew Abir says in an interview, recorded on March 1. “Certainly, the returns of equity have been higher than the expected return we put in our asset allocation process from the