Media contributions
1Media contributions
Title Financial market sensitivity to announcements by the ECB Media name/outlet VoxEU Country/Territory Netherlands Date 2/01/21 Description Policy announcements by a central bank policy can have a significant impact on financial markets. This column examines the sensitivity of various asset prices and other metrics to the ECB’s monetary policy announcements. Bond spreads, stock prices, and the euro-dollar exchange rate became more sensitive to policy announcements over time. But volatility of market ‘surprises’ was significantly higher after easing compared to after tightening decisions. This suggests that the ECB’s monetary policy communication has become an increasingly important market-moving event. URL https://cepr.org/voxeu/columns/financial-market-sensitivity-announcements-ecb Persons Jan Willem van den End, Anna Samarina