search query: @author Stremme, M. / total: 2
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| Author: | Stremme, M. |
| Title: | The scope for national monetary policy in the face of globalised financial markets |
| Journal: | Economic Bulletin
1995 : APR, VOL. 32:4, p. 3-8 |
| Index terms: | MONETARY POLICY FINANCIAL MARKETS GERMANY |
| Language: | eng |
| Abstract: | Last year saw a sustained global rise in interest rates, a trend which did not fail to leave its mark on the German capital market. During the first half of the year the German Bundesbank attempted to counter this development by forcing down the interest rate on the money market (day rate) from 6% to 5%. In spite of this effort the German capital market rose, in line with that in the USA, from 6% to 7.5%. Many observers, the Bundesbank included, have interpreted this parallel movement as reflecting the increasing globalization of capital markets. |
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