The importance of interbank rate quotations is enormous from the aspect of pricing loans, deposits, and financial instruments, and in general for the efficiency of resource allocation mechanisms in the economy. Consequently, it is crucial to ensure that interest rate quotations are defined in a...

Despite near-zero interest rates set by large central banks and other steps towards monetary easing in recent years, the economic environment has been characterised by low inflation globally and deflationary fears in some regions, while real economic activity has remained moderate. Although...

This study focuses on the elements of short-dated forward yields in Hungary and other emerging market economies – short-rate expectations and the term premium – and the influences on their behaviour. The rate expectations are proxied by median values of analyst surveys. Principal components...