Altavilla, Carlo; Brugnolini, Luca; Gürkaynak, Refet S.; … - 2019
We study the information flow from the ECB on policy dates since its inception, using tick data. We show that three …' responses to monetary policy surprises depended on the perceived nature of the surprises. We find no evidence of asymmetric … responses of financial markets to positive and negative surprises, in contrast to the literature on asymmetric real effects of …