Borrowing of money whose repayment is to be determined – by the exchange rate of another currency, – by the price of a precious metal (gold, platinum), – by the price or value of other goods, or – by the level of the consumer price index. – In Germany, an issue linked to the Harmonized Index of Consumer Prices was issued by the Federal Government for the first time in March 2006 (“Inflationsbond”). – See bond, index-linked, Condor bond, dual-currency bond, reference currency, swap, inflation-indexed, value clause, interest rate swap. – See ECB Monthly Bulletin of November 2004, p. 77 f; Deutsche Bundesbank Monthly Bulletin of October 2006, p. 41 (yield gap between normal and index-linked issues as a measure of inflation expectations).
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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