Schnadt, Norbert; Whittaker, John - In: The Manchester School of Economic & Social Studies 63 (1995) 4, pp. 368-87
The determination of money market interest rates is studied in a model in which the magnitude, but not the timing, of a future change in the Bank of England's official lending rate is known. When the bank is expected to raise its official rate, short-term market rates may be less than the...