What Drives the POLONIA Spread in Poland?

Working Paper No. 12/215

Nopic
Since the start of the 2008 - 09 financial crisis, the Polish Overnight Index Average (POLONIA) has persistently been below the policy rate, suggesting a limited influence of the NBP's open market operations on the short-term interbank rate. In this regard, this paper analyzes the behavior of the POLONIA spread and explore several potential... READ MORE...

Publication date: August 2012
ISBN 9781475505658
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Publication date: August 2012

English