Russia policy rate in 2008 (6 changes)

Start of year10.00%

End of year13.00%Dec 31, 2008

Net change+300 bp6 hikes, 0 cuts

Average10.904%

Rank by level5 / 38

Changes in 2008

Date	From	To	Change
Feb 4, 2008	10.00%	10.25%	hike +25 bp
Apr 29, 2008	10.25%	10.50%	hike +25 bp
Jun 10, 2008	10.50%	10.75%	hike +25 bp
Jul 14, 2008	10.75%	11.00%	hike +25 bp
Nov 12, 2008	11.00%	12.00%	hike +100 bp
Dec 1, 2008	12.00%	13.00%	hike +100 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

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%

← 2007 2009 →

2008: hikes and cuts worldwide →

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