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Stale forward guidance

Gunda-Alexandra Detmers and Dieter Nautz ()

Economics Letters, 2014, vol. 124, issue 3, 358-361

Abstract: Quarterly central bank projections regarding future interest rate decisions may become stale when new information enters the market. Using data from New Zealand, we find the predicted time-varying and state-dependent effects of interest rate projections on market expectations and uncertainty.

Keywords: Central bank interest rate projections; Central bank communication; Quantitative forward guidance; Interest rate uncertainty (search for similar items in EconPapers)
Date: 2014
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