Russia policy rate in 2004 (2 changes)

Start of year16.00%

End of year13.00%Dec 31, 2004

Net change-300 bp0 hikes, 2 cuts

Average13.52%

Rank by level4 / 36

Changes in 2004

Date	From	To	Change
Jan 15, 2004	16.00%	14.00%	cut -200 bp
Jun 15, 2004	14.00%	13.00%	cut -100 bp

Compared with other areas at the end of 2004

Türkiye18%

Brazil17.75%

Romania17%

Russia13%

North Macedonia10%

Hungary9.5%

Mexico8.75%

Serbia8.5%

Iceland7.92%

South Africa7.5%

Philippines6.75%

Poland6.5%

New Zealand6.5%

Colombia6.5%

India6%

China5.58%

Australia5.25%

Kuwait4.75%

United Kingdom4.75%

Hong Kong3.75%

Israel3.7%

Morocco3.25%

South Korea3.25%

Peru3%

Malaysia2.7%

Saudi Arabia2.5%

Czechia2.5%

Canada2.5%

United States2.25%

Chile2.25%

Denmark2.15%

Euro area2%

Thailand2%

Sweden2%

Norway1.75%

Switzerland0.75%

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%

← 2003 2005 →

2004: hikes and cuts worldwide →

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