An evaluation of private forecasts of interest rate targets in Brazil

Hamid Baghestani and Cassia Marchon

Economics Letters, 2012, vol. 115, issue 3, 352-355

Abstract: This study shows that the private sector accurately predicts short-term interest rate targets set by the Brazilian monetary authorities. With increased transparency under inflation targeting, such evidence suggests that the public perceives the central bank as credible.

Keywords: Monetary policy; Credibility; Inflation targeting; Emerging market economies; Selic (search for similar items in EconPapers)
JEL-codes: E4 E5 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:115:y:2012:i:3:p:352-355

DOI: 10.1016/j.econlet.2011.12.077

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