Recent yield curve behaviour-an analysis

Quarterly Bulletin 1997 Q1
Published on 01 March 1997

By Bill Allen, Deputy Director, Monetary Analysis.

This article analyses recent fluctuations in ten-year bond yields in six countries using an estimation technique to decompose them into different maturity segments, and draws conclusions about the effects on ten-year yields of the changing state of the business cycle and of changing longer-term inflationary expectations.

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