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- Title
Monetary policy news and market reaction to the Inflation Report and MPC Minutes.
- Authors
Bell, James; Windle, Robin
- Abstract
This article describes the results of analysis carried out as background for the speech 'Inflation targeting in practice: models, forecasts and hunches,' by Rachel Lomax, Deputy Governor for Monetary Policy, which is reproduced in this edition of the Quarterly Bulletin. It examines the reactions of both economists and financial markets to different MPG announcements: the policy statement release immediately after the interest rate meeting; the Minutes of that meeting; and the Inflation Report. This article also examines whether the amount of perceived `news' contained in interest rate decisions has changed since the MPG was established in 1997.
- Subjects
UNITED Kingdom; PRICE inflation; ECONOMIC policy; DEMAND for money; INTEREST rates; FINANCIAL markets; PUBLIC spending
- Publication
Bank of England Quarterly Bulletin, 2005, Vol 45, Issue 2, p169
- ISSN
0005-5166
- Publication type
Article