Prices of commodities, including metals, energy and agricultural products, rose markedly over the 2009 - 2010 period. Some observers have attributed a significant part of this increase in commodity prices to the U.S. Federal Reserve's large-scale asset purchase (LSAP) programs. Using event-study...

While central banks cannot provide complete foresight with respect to their future policy actions, it is in the interests of both central banks and market participants that central banks be transparent about their reaction functions and how they may evolve in response to economic developments,...