Embodiments of the present invention relate to implantable systems, and method for use therein, that can detect myocardial ischemic events. In accordance with specific embodiments of the present invention, short-term fluctuations in cardiac intervals that follow premature ventricular contractions (PVCs) are monitored. This allows myocardial ischemic events to be detected based on these monitored fluctuations. The cardiac intervals for which fluctuations are being monitored can be, for example, RR intervals. Alternatively, or additionally, short-term fluctuations in other types of cardiac intervals may be monitored. Such other cardiac intervals include, for example, PR intervals, PP intervals, QT intervals and RT intervals.