Brazil policy rate in 2008 (4 changes)

Start of year11.25%

End of year13.75%Dec 31, 2008

Net change+250 bp4 hikes, 0 cuts

Average12.45%

Rank by level4 / 38

Changes in 2008

Date	From	To	Change
Apr 17, 2008	11.25%	11.75%	hike +50 bp
Jun 5, 2008	11.75%	12.25%	hike +50 bp
Jul 24, 2008	12.25%	13.00%	hike +75 bp
Sep 11, 2008	13.00%	13.75%	hike +75 bp

Compared with other areas at the end of 2008

Iceland18%

Serbia17.75%

Türkiye15%

Brazil13.75%

Russia13%

South Africa11.5%

Romania10.25%

Hungary10%

Colombia9.5%

Indonesia9.25%

Mexico8.25%

Chile8.25%

North Macedonia7%

Peru6.5%

India6.5%

Philippines5.5%

China5.31%

Poland5%

New Zealand5%

Australia4.25%

Kuwait3.75%

Denmark3.75%

Morocco3.5%

Malaysia3.25%

Norway3%

South Korea3%

Thailand2.75%

Euro area2.5%

Saudi Arabia2.5%

Israel2.5%

Czechia2.25%

Sweden2%

United Kingdom2%

Canada1.5%

Hong Kong0.5%

Switzerland0.5%

United States0.125%

Japan0.1%

Year-end rate over time

202613.75%

202515%

202412.25%

202311.75%

202213.75%

20219.25%

20202%

20194.5%

20186.5%

20177%

201613.75%

201514.25%

201411.75%

201310%

20127.25%

201111%

201010.75%

20098.75%

200813.75%

200711.25%

200613.25%

200518%

200417.75%

200316.5%

200225%

200119%

200015.75%

← 2007 2009 →

2008: hikes and cuts worldwide →

Daily policy-rate data compiled by the BIS. Not investment advice.