Open Access#12001
Transparency and credibility of menetary policy in transition countries:the case of the Czech republic
In: http://www.nusl.cz/ntk/nusl-123911
This study is about what asset price can tell us about the evolving credibility of the monetary policy of the Czech National Bank (CNB). From the beginning of the 1990s, several market economies adopted direct inflation targeting. The focus of analysis is to examine the effect of changes in the two-week repo rate (the official interest rate) on short and long–maturity market interest rates.
