Interest rate pass-through in Portugal: Interactions, asymmetries and heterogeneities

摘要: Abstract This study looks at and finds interactions—between lending, deposit, interbank rates—and asymmetries in interactions, the pass-through to retail bank interest rates Portugal. We uncover heterogeneous adjustments of as between sectors, loans deposits, across maturities—which include complete long-run corporate lending but rigidities for personal sector, incomplete adjustment deposit which also adjust asymmetrically. The results shed new light into understanding behaviour banks transmission mechanism monetary policy, is value future policy.