Stale forward guidance

Quarterly central bank projections regarding future interest rate decisions may become stale when new information enters the market. Using data from New Zealand, we find the predicted time-varying and state-dependent effects of interest rate projections on market expectations and uncertainty.

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Year of publication:	2014
Authors:	Detmers, Gunda-Alexandra ; Nautz, Dieter
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 124.2014, 3, p. 358-361
Publisher:	Elsevier
Subject:	Central bank interest rate projections \| Central bank communication \| Quantitative forward guidance \| Interest rate uncertainty

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Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010930734