Russia policy rate in 2003 (2 changes)

Start of year21.00%

End of year16.00%Dec 31, 2003

Net change-500 bp0 hikes, 2 cuts

Average17.264%

Rank by level4 / 36

Changes in 2003

Date	From	To	Change
Feb 17, 2003	21.00%	18.00%	cut -300 bp
Jun 21, 2003	18.00%	16.00%	cut -200 bp

Compared with other areas at the end of 2003

Türkiye26%

Romania21.25%

Brazil16.5%

Russia16%

Hungary12.5%

Serbia9%

South Africa8%

Colombia7.25%

India7%

Philippines6.75%

North Macedonia6.65%

Mexico6.12%

China5.31%

Poland5.25%

Australia5.25%

Israel5.2%

Iceland5.16%

New Zealand5%

Malaysia4.5%

South Korea3.75%

United Kingdom3.75%

Morocco3.25%

Kuwait3.25%

Sweden2.75%

Canada2.75%

Peru2.5%

Hong Kong2.5%

Norway2.25%

Chile2.25%

Denmark2.15%

Euro area2%

Czechia2%

Saudi Arabia1.75%

Thailand1.25%

United States1%

Switzerland0.375%

Year-end rate over time

202614%

202516%

202421%

202316%

20227.5%

20218.5%

20204.25%

20196.25%

20187.75%

20177.75%

201610%

201511%

201417%

20135.5%

20128.25%

20118%

20107.75%

20098.75%

200813%

200710%

200611%

200512%

200413%

200316%

200221%

200125%

200025%

← 2002 2004 →

2003: hikes and cuts worldwide →

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