How do UK Banks React to Changing Central Bank Rates?

This paper explores the interest rate transmission mechanism using a broad disaggregated sample of UK deposit and credit products. For a large proportion of rates the adjustment speed is time-varying, switching among four regimes according to the direction of the policy rate and its effect on the di...

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Veröffentlicht in:	Journal of financial services research 2010-06, Vol.37 (2-3), p.99-130
Hauptverfasser:	Fuertes, Ana-Maria, Heffernan, Shelagh, Kalotychou, Elena
Format:	Artikel
Sprache:	eng
Schlagworte:	Adjustment speed Asymmetry Banks Central banks Cost control Costs Curvature Datasets E43 E52 Econometrics Economics and Finance Error correction & detection Error correction model Error correction models Finance Financial institutions Financial Services G20 G21 Interest rates Macroeconomics/Monetary Economics//Financial Economics Monetary policy Regime-switching Structured products Studies Time-variation Transmission mechanism United Kingdom
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