... J., and Vincent Reinhart, 1994, “The Financial Linkages in theTransmission of Monetary Policy in the United States,” in NationalDifferences in Interest Rate Transmission (Basel: Bank for InternationalSettlements), ... opera-tions in the implementation of policy since 1985, but even a largely antici-pated change in official interest rates on standing facilities can still be effec-tive in confirming and clarifying ... of changes in offi-cial interest rates by the U.S. Federal Reserve (for instance, Lombra and Torto,1977; Thornton, 1986 and 1994; Cook and Hahn, 1988 and 1989; and Radecki and Reinhart, 1994),...