This paper analyzes the degree to which volatility in interbank interest rates leads to volatility in financial instruments with longer maturities (e.g., T-bills) in Kenya since 2012, year in which the monetary policy framework switched to a forward-looking approach, relative to seven other...

This paper analyzes the degree to which volatility in interbank interest rates leads to volatility in financial instruments with longer maturities (e.g., T-bills) in Kenya since 2012, year in which the monetary policy framework switched to a forward-looking approach, relative to seven other...

This report on Adopting Inflation Targeting describes the trade-offs raised in the formulation of an inflation targeting framework and states the approaches to these trade-offs used by inflation targeting countries. The inherent differences discussed in this report between the six emerging...