
Expectations play key role in policy transmission – BoE paper
Interest rate expectations and term premia are equally important to the transmission of monetary policy to the yield curve, research published by the Bank of England finds.
Iryna Kaminska, Haroon Mumtaz and Roman Sustek note earlier research found only a “miniscule role” for interest rate expectations, with most of the effect occurring through term premia. This is a problem, as expectations typically play a large role in central bank models, the authors note.
In the working paper, they use
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email [email protected]