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Bank of Canada communication, media coverage, and financial market reactions

2011; Elsevier BV; Volume: 115; Issue: 3 Linguagem: Inglês

10.1016/j.econlet.2011.12.086

1873-7374

Bernd Hayo, Matthias Neuenkirch,

Monetary Policy and Economic Impact

We examine how Bank of Canada communications and media reporting on them impacts Canadian bond and stock market returns. Official communications exert a relatively larger influence on the bond market, whereas media coverage is more relevant for the stock market.