Conditional covariances and direct central bank interventions in the foreign exchange markets

Article Abstract:

The effects of the Central Bank interventions (CBIs) on the ex post correlation and covariance of exchange rates are investigated. The effects of CBIs on both the variances and covariance between the yen and the Duetsche mark (the Euro) in terms of the U.S. dollar are estimated by using a multivariate GARCH model with time varying conditional covariances.

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Are all Central Bank interventions created equal? An empirical investigation

Article Abstract:

The inefficiency of the foreign exchange market is identified by examining the relationship between Central Bank interventions and technical trading returns. The technical trading profits suggest that Central Bank interventions were related to the constant movements in exchange rates and not to short-term movements.

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How should central banks determine and control their bank note inventory?

Article Abstract:

Inventory management methods, which solve problems related to liquidity supply of central banks, are presented.

Canada, Market information - general, Money Supply, Inventory Control, Methods, Analysis, Supply and demand, Liquidity (Finance)

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