Does the Spot Curve Contain Information on Future Monetary Policy in Colombia?

Borradores de Economia
Número: 
463
Publicado: 
Clasificación JEL: 
E43, E44, E52
Palabras clave: 
Market Expectations of future Monetary Policy, Expectations Hypothesis, Term Structure.

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In order to asses the credibility of their targets and policies, inflation targeting central banks always keep an eye on market expectations of the future inflation rates and short maturity interest rates. In economies with developed financial markets the