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Euro-Area Yield Curve Reaction to Monetary News
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Jèrôme Coffinet
Veröffentlicht/Copyright:
30. November 2019
Abstract
Using intraday data, we assess the impact of monetary news on the full length of the euro-area yield curve. We find that the publication of monetary data has a significant impact on interest rates with maturities ranging from one to ten years, with the largest effect on the one- to five-year segment. These results suggest that when gauging the policy-relevant signals, market participants look through short-term movements of annual M3 growth and focus instead on the trend rate of monetary expansion over the medium term.
Published Online: 2019-11-30
Published in Print: 2010-05-01
© 2019 by Walter de Gruyter Berlin/Boston
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Artikel in diesem Heft
- Survey on the Shadow Economy and Undeclared Earnings in OECD Countries
- Always Poor or Never Poor and Nothing in Between? Duration of Child Poverty in Germany
- Downward Wage Rigidity in Europe: A New Flexible Parametric Approach and Empirical Results
- Going Multinational: What are the Effects on Home-Market Performance?
- Euro-Area Yield Curve Reaction to Monetary News
- Consumer Expenditures and Home Production at Retirement – New Evidence from Germany
