-term interest rates to the Bank of England’s inflation report andto macroeconomic announcements. Due to the quarterly frequency at …

-term interest rates to the Bank of England’s inflation report and to macroeconomic announcements. Due to the quarterly frequency at … which the Bank of England releases one of its main publications, it can become stale over time. In the course of this …

substantially more sensitive to central bank communication around policy meetings. Short-term interest rates react three to four … the limits to central bank transparency. JEL Classification: E58, E52, E43 …

We study credible information transmission by a benevolent Central Bank. We consider two possibilities: direct … transmitting information have very different consequences. Since the objectives of the Central Bank and those of individual … investors are not always aligned, private investors might rationally ignore announcements by the Central Bank. In contrast …

We find evidence of a bank lending channel for the euro area operating via bank risk. Financial innovation and the new … ways to transfer credit risk have tended to diminish the informational content of standard bank balance-sheet indicators …. We show that bank risk conditions, as perceived by financial market investors, need to be considered, together with the …

We find evidence of a bank lending channel for the euro area operating via bank risk.Financial innovation and the new … ways to transfer credit risk have tended to diminishthe informational content of standard bank balance-sheet indicators. We … indicators (i.e. size, liquidity and capitalization), traditionallyused in the bank lending channel literature to assess a bank …