Iceland policy rate in 2002 (10 changes)

Start of year9.60%

End of year5.63%Dec 31, 2002

Net change-397 bp0 hikes, 10 cuts

Average8.008%

Rank by level15 / 34

Changes in 2002

Date	From	To	Change
Mar 26, 2002	9.60%	9.15%	cut -45 bp
Apr 30, 2002	9.15%	8.88%	cut -27 bp
May 16, 2002	8.88%	8.42%	cut -46 bp
Jun 18, 2002	8.42%	8.15%	cut -27 bp
Aug 1, 2002	8.15%	7.59%	cut -56 bp
Aug 30, 2002	7.59%	7.31%	cut -28 bp
Sep 18, 2002	7.31%	6.85%	cut -46 bp
Oct 15, 2002	6.85%	6.57%	cut -28 bp
Nov 6, 2002	6.57%	6.10%	cut -47 bp
Dec 12, 2002	6.10%	5.63%	cut -47 bp

Compared with other areas at the end of 2002

Türkiye44%

Brazil25%

Russia21%

North Macedonia15.22%

South Africa13.5%

Serbia9.5%

Israel8.9%

Hungary8.5%

Mexico8.25%

India7.5%

Philippines7%

Poland6.75%

Norway6.5%

New Zealand5.75%

Iceland5.63%

China5.31%

Colombia5.25%

Malaysia5%

Australia4.75%

South Korea4.25%

United Kingdom4%

Sweden3.75%

Morocco3.25%

Kuwait3.25%

Chile3%

Denmark2.95%

Euro area2.75%

Hong Kong2.75%

Czechia2.75%

Canada2.75%

Saudi Arabia2%

Thailand1.75%

United States1.25%

Switzerland0.75%

Year-end rate over time

20268%

20257.25%

20248.5%

20239.25%

20226%

20212%

20200.75%

20193%

20184.5%

20174.25%

20165%

20155.75%

20144.5%

20135.375%

20125.375%

20114.125%

20103.875%

20099.125%

200818%

200713.75%

200613.3%

20059.97%

20047.92%

20035.16%

20025.63%

20019.6%

200010.77%

← 2001 2003 →

2002: hikes and cuts worldwide →

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