Stale forward guidance
Gunda-Alexandra Detmers and
Dieter Nautz ()
Economics Letters, 2014, vol. 124, issue 3, 358-361
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)
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Working Paper: Stale Forward Guidance (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:124:y:2014:i:3:p:358-361
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