Policy-rate changes in 2004-07 (20)

Hikes14

Cuts6

Largest move-75 bp

Iceland+47 bp

Kuwait+25 bp

Mexico+7 bp

Poland+50 bp

Hong Kong+25 bp

Mexico+1 bp

Mexico-1 bp

Mexico+1 bp

Romania-75 bp

Mexico-1 bp

Mexico+1 bp

Mexico-1 bp

Mexico+1 bp

Mexico+15 bp

Mexico-1 bp

Mexico+1 bp

New Zealand+25 bp

Poland+25 bp

Mexico+1 bp

Date	Country / region	From	To	Change
Jul 1, 2004	Iceland	5.59%	6.06%	hike +47 bp
Jul 1, 2004	Kuwait	3.25%	3.50%	hike +25 bp
Jul 1, 2004	Mexico	6.53%	6.60%	hike +7 bp
Jul 1, 2004	Poland	5.25%	5.75%	hike +50 bp
Jul 2, 2004	Hong Kong	2.50%	2.75%	hike +25 bp
Jul 2, 2004	Mexico	6.60%	6.61%	hike +1 bp
Jul 5, 2004	Mexico	6.61%	6.60%	cut -1 bp
Jul 9, 2004	Mexico	6.60%	6.61%	hike +1 bp
Jul 12, 2004	Romania	20.75%	20.00%	cut -75 bp
Jul 13, 2004	Mexico	6.61%	6.60%	cut -1 bp
Jul 16, 2004	Mexico	6.60%	6.61%	hike +1 bp
Jul 20, 2004	Mexico	6.61%	6.60%	cut -1 bp
Jul 21, 2004	Mexico	6.60%	6.61%	hike +1 bp
Jul 23, 2004	Mexico	6.61%	6.76%	hike +15 bp
Jul 26, 2004	Mexico	6.76%	6.75%	cut -1 bp
Jul 28, 2004	Mexico	6.75%	6.74%	cut -1 bp
Jul 29, 2004	Mexico	6.74%	6.75%	hike +1 bp
Jul 29, 2004	New Zealand	5.75%	6.00%	hike +25 bp
Jul 29, 2004	Poland	5.75%	6.00%	hike +25 bp
Jul 30, 2004	Mexico	6.75%	6.76%	hike +1 bp