MUTUAL ADAPTATION OF INTEREST RATES ON THE MONEY MARKET
Journal Title: EMC Review: Časopis za ekonomiju i tržišne komunikacije - Year 2017, Vol 7, Issue 2
Abstract
Along with the process of globalization, interest rates have become a significant benchmark for the effectiveness of banking policies in the money market. In this regard, the focus of the research is the interdependence of central bank interest rates and interest rates on the interbank money market (EONIA, EURIBOR, LIBOR SONIA and OIS). The paper analyzes the movement of reference interest rates and their variability over time, depending on the effect that the monetary authorities want to achieve. Interest rates on interbank money market and interdependence in the movements of interest rates in the period from 2006 till 2016 have been examined and a positive correlation between them was found. In contrast, the reference interest rates of the leading central banks were moving in line with the monetary authorities’ objectives, so the movements had different directions. During the observed period, the Central Bank of Bosnia and Herzegovina adjusted the interest rates on the financial markets of euro denominated instruments and yields. The correlation between the interest rates of the European Central Bank for the main refinancing operations and the average weighted interest rate of the Central Bank of Bosnia and Herzegovina is justified by the use of the currency board in Bosnia and Herzegovina.
Authors and Affiliations
Bogdana Vujnović-Gligorić, Nina Uremović, Zumreta Galijašević
Keywords
Related Articles
- EP ID EP333164
- DOI -
- Views 72
- Downloads 0
MODELIRANJE POSLOVNO – EKONOMSKIH STRATEGIJA KAO PLATFORME INVESTICIONE POLITIKE U USLOVIMA RIZIKA - MODELLING OF BUSINESS-ECONOMIC STRATEGIES AS A PLATFORM OF INVESTMENT POLICY IN THE RISK EXPOSURE
Investment policy and investing represent essential tasks, and also major issues of almost all socio-economic systems. Investing stands for a development platform and is necessary for survival of market and economic syst...
PRODUCT DESIGN IN THE SERVICE OF QUALITY INTERNATIONAL MARKETING
The world is full of favorable opportunities, they could be big, small, recurrent, unrepeatable, and in the end they are always either used or missed forever. The product design is a convenient opportunity used to implem...
APPLICATION OF THE PUBLIC PROCUREMENT SYSTEM IN BOSNIA AND HERZEGOVINA WITH REGARD TO THE IMPROVEMENT AND DEVELOPMENT OF EDUCATION AND TRAINING
The public procurement system isnowadays a special discipline, and this paper explores the possibility of researching it. The main reason for researching the mentioned system is the need to apply the public procurement s...
TAJNA DIPLOMATIJA I INTERESNE SFERE: PRIMER BALKANSKOG POLUOSTRVA - SECRET DIPLOMACY AND INTERESTED SPHERES: THE CASE OF BALKAN PENINSULA
The phenomena of secret diplomacy and spheres of influence are closely related. History of international relations testify that the most common areas of interest are established through secret diplomacy. Nothing in this...
HE RESARCH ON EFFICIENCY OF THE STUDENT SERVICE IN THE CASE OF UNIVERSITY NORTH, UNIVERSITY CENTER VARAŽDIN
The organization is a group of people who enable the achievement of a common goal using their own efforts. Organizing is a process which has two specifi c parts: the structure of a company and coordination of human resou...