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Is the MPC's Voting Record Informative about Future UK Monetary Policy? Author info | Abstract | Publisher info | Download info | Related research | Statistics Petra Gerlach-Kristen
It is shown that the voting record of the Monetary Policy Committee of the Bank of England helps predict future policy rate changes. This result is robust to the inclusion of market participants' expectations as measured by the slope of the term structure of money market rates and interest rate futures. Moreover, expectations seem to adjust to the information contained in the voting record, which suggests that publishing the minutes of MPC meetings increases the transparency of monetary policy. Copyright The editors of the "Scandinavian Journal of Economics", 2004 .
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Article provided by Blackwell Publishing in its journal The Scandinavian Journal of Economics .
Volume (Year): 106 (2004)
Issue (Month): 2 (06)
Pages: 299-313
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Handle: RePEc:bla:scandj:v:106:y:2004:i:2:p:299-313Contact details of provider: Web page: http://www.blackwellpublishing.com/journal.asp?ref=0347-0520
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