... probability of being in the informed trading state onUnexpected Change days is plotted in figure 3. The similarity of the results in tables 2 and 3, and of figures 2 and 3, is striking and suggests ... the dollar-sterling exchange rate were obtainedfrom a major international bank for each of our 126 MPC meetingdays and a set of 126 control days, defined as the same day of theweek as the MPC ... unscheduled meeting of September18, 2001, and the respective control day on September 25, 2001.Vol. 6 No. 3 Bank of England Interest Rate Announcements 227We sample the last quotation of each five-minute...