Agreement in which a counterparty A undertakes to counterparty B to make payments of a fixed amount in exchange for payments indexed to the rate of inflation. The payments can be made – at the maturity of the swap: inflation-linked zero-coupon swap or – annually during the life of the swap: inflation-linked swap with multiple payment. An inflation-linked zero-coupon swap expresses the inflation expectations of the parties involved and is therefore of great interest for forward-looking monetary policy. – See bond, index-linked, issue, indexed, haven, safe, index money, inflation buyer, inflation rate, expected, Mundell-Tobin effect, distress assets, zero-coupon bond, swap, two-pillar principle. – Cf. ECB Monthly Bulletin, September 2003, pp. 34 f. (explanatory notes), BaFin Annual Report 2012, p. 98 (questions about the permissibility of inflation swaps for insurance companies and pension funds).
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Passende Formel
Inflationsrate
Die prozentuale Veränderung eines Preisindex zwischen zwei Perioden bestimmen.
Variablen: π Inflationsrate in Prozent; P Preisindex.
Anwendung: Für Verbraucherpreisindex, BIP-Deflator und andere Preisindizes.