"No man is irreplaceable, but his departure is a huge loss to the Israeli economy," he said.
Fischer faced some criticism from those who said his low interest rate policy contributed to a surge in Israel's housing prices. Plocker countered that the effect was negligible, and a lack of supply was the main cause of the housing crisis.
His successor will face significant challenges, including the still skyrocketing real-estate market, shielding the country from the European economic crisis and coping with a larger than expected government deficit that could well bring deep cutbacks.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.