The differential impact of monetary policy announcements and explanatory minutes releases on the Australian interest rate futures market

Bronwyn McCredie, Paul Docherty, Steve Easton and Katherine Uylangco

Pacific-Basin Finance Journal, 2014, vol. 29, issue C, 261-271

Abstract: Unlike US and Continental European jurisdictions, Australian monetary policy announcements are not followed promptly by projections materials or comprehensive summaries that explain the decision process. This information is disclosed 2weeks later when the explanatory minutes of the Reserve Bank board meeting are released. This paper is the first study to exploit the features of the Australian monetary policy environment in order to examine the differential impact of monetary policy announcements and explanatory statements on the Australian interest rate futures market.

Keywords: Monetary policy announcement; Interest rate futures market; Explanatory minutes; Global Financial Crisis (search for similar items in EconPapers)
JEL-codes: D03 E32 E52 G01 G14 (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:pacfin:v:29:y:2014:i:c:p:261-271

DOI: 10.1016/j.pacfin.2014.05.001

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