Abstract:
Following on from the note entitled <93>The Function of the Central Bank<94>, this note brings the data up to date. It will be re-issued at intervals. It will monitor the tendency of short-term interest rates, give the author's judgement on the likely movement of the central bank rate in the UK, US and Euorozone, and enable the reader to make his own judgement. An addendum shows that by the normal standards of statistical testing (which by their nature must always fall short of proof), the 3- month bank rate leads the changes announced by the central banks in their base rates.
Keywords:central-bank; interest-rate; stability; inflation; growth (search for similar items in EconPapers) JEL-codes:E (search for similar items in EconPapers) New Economics Papers: this item is included in nep-mac and nep-mon Date: Written Note: Type of Document - HTML; prepared on IBM PC ; to print on Lexmark Z51; pages: 10 ; figures: 14 figuresincluded