Financial Market Reactions to Interest Rate Announcements and Macroeconomic Data Releases

Bank of England Quarterly Bulletin, August 2000

Cass Business School Research Paper

8 Pages Posted: 3 Aug 2005

See all articles by Andrew Clare

Andrew Clare

City University London - Sir John Cass Business School

Roger Courtenay

Vizor Investment Management, London

Abstract

Reactions of financial prices to news contain information about market beliefs and expectations. This article looks at reactions of a selection of UK interest rate, equity and exchange rate contracts to macroeconomic data releases and interest rate changes before and after the Bank of England was granted operational independence in May 1997. We find some differences in the nature of the reactions in the two periods, and attempt to draw out the implications for market perceptions of monetary policy.

Suggested Citation

Clare, Andrew D. and Courtenay, Roger, Financial Market Reactions to Interest Rate Announcements and Macroeconomic Data Releases. Bank of England Quarterly Bulletin, August 2000; Cass Business School Research Paper. Available at SSRN: https://ssrn.com/abstract=764327

Andrew D. Clare (Contact Author)

City University London - Sir John Cass Business School ( email )

106 Bunhill Row
London, EC1Y 8TZ
United Kingdom

Roger Courtenay

Vizor Investment Management, London ( email )

No Address Available
+44 20 73214838 (Phone)
+44 20 73214839 (Fax)

Register to save articles to
your library

Register

Paper statistics

Downloads
207
rank
144,372
Abstract Views
1,377
PlumX Metrics
!

Under construction: SSRN citations while be offline until July when we will launch a brand new and improved citations service, check here for more details.

For more information