Understanding basic mathematics is essential to any bond market analysis. This handbook covers the basic features of a bond and allows the reader to understand the concepts involved in pricing a bond and assessing its relative value. The handbook sets out how to price a bond, with single and...

Monetary operations typically aim to achieve monetary stability; but, under this broad umbrella, the monetary authorities need to decide which specific targets to aim at, and which policy instruments should be used. For most countries the final long-term monetary target of the central bank is...

Derivatives, ranging from relatively simple forward contracts to complicated options products, are an increasingly important feature of financial markets worldwide. They are already being used in many emerging markets, and as the financial sector becomes deeper and more stable, their use is...