Research Discussion Paper – RDP 2004-10 News and Interest Rate Expectations: A Study of Six Central Banks

Contents

• Introduction
• News and Interest Rate Expectations: Some Conceptual Issues
• Does News Matter?
• Measuring the Impact of News on Interest Rates: A Cross-country Study
• Conclusions
• Appendix A: Data
• Appendix B: Econometric Results
• References

We would like to thank Christopher Kent, Mark Lauer, Anthony Richards and seminar participants at the Reserve Bank of Australia and at the annual conference of the Reserve Bank of Australia 2004 for valuable comments and discussions. Any remaining errors are ours. The views expressed are those of the authors and do not necessarily reflect the views of the Reserve Bank of Australia.