The Euribor Futures Market: Efficiency and the Impact of ECB Policy Announcements

Kerstin Bernoth () and Juergen von Hagen ()

International Finance, 2004, vol. 7, issue 1, pages 1-24

Abstract: For an effective and smooth monetary policy, it is important that interest rate expectations are in line with central bank policy intentions. The predictability of money market interest rates is, therefore, an indicator of transparency and clarity in the communication of monetary policy and of the effectiveness of monetary policy implementation. Copyright Blackwell Publishing Ltd. 2004

Date: 2004
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