01824cas a2200301 a 4500 AALejournalIMF000321 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451844344 1018-5941 BD-DhAAL BD-DhAAL International Monetary Fund. Informational Efficiency, Interest Rate Variability, and Central Bank Operations. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (30 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students It is shown how the frequency of central bank intervention in financial markets can affect the incentives for economic agents to acquire information, which will be reflected in market prices and thus become available to policy makers. The optimal frequency of intervention, and therefore the optimal interest rate variability, will balance the desirability of attaining given operational targets against the benefits of encouraging informational efficiency. The ability of the central bank to send clear signals of its own intentions will also depend on market informational efficiency. Mode of access: Internet Central Bank imf Event Studies imf Information and Market Efficiency imf Monetary Policy imf WP imf IMF Working Papers; Working Paper ; No. 1997/026 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/026/001.1997.issue-026-en.xml IMF e-Library