The effect of base rate change announcements on interest rates
Part of : Σπουδαί : journal of economics and business ; Vol.42, No.1, 1992, pages 11-24
Issue:
Pages:
11-24
Abstract:
The determination of interest rates is empirically investigated for the UK economy. Particular attention is given to the institutional framework in the conduct of monetary policy. Specifically, we have reviewed the Bank of England's operations in the money markets and its indigenous peculiarities such as the presence of the discount houses. The institutional arrangements ensure that the discount rate changes have a powerful influence on interest rates, contrary to the tradition whereby the money supply and demand are the main mechanisms for determining interest rates.
Subject (LC):
Notes:
Περιέχει πίνακα, υποσημειώσεις και βιβλιογραφία
