Policy-rate changes in 2011-12 (11)

Hikes1

Cuts10

Largest move-50 bp

Brazil-50 bp

Israel-25 bp

Australia-25 bp

Serbia-25 bp

Denmark-25 bp

Euro area-25 bp

Norway-50 bp

Denmark-10 bp

Hungary+50 bp

Sweden-25 bp

Russia-25 bp

Date	Country / region	From	To	Change
Dec 1, 2011	Brazil	11.50%	11.00%	cut -50 bp
Dec 1, 2011	Israel	3.00%	2.75%	cut -25 bp
Dec 7, 2011	Australia	4.50%	4.25%	cut -25 bp
Dec 8, 2011	Serbia	10.00%	9.75%	cut -25 bp
Dec 9, 2011	Denmark	0.65%	0.40%	cut -25 bp
Dec 14, 2011	Euro area	1.25%	1.00%	cut -25 bp
Dec 15, 2011	Norway	2.25%	1.75%	cut -50 bp
Dec 16, 2011	Denmark	0.40%	0.30%	cut -10 bp
Dec 21, 2011	Hungary	6.50%	7.00%	hike +50 bp
Dec 21, 2011	Sweden	2.00%	1.75%	cut -25 bp
Dec 26, 2011	Russia	8.25%	8.00%	cut -25 bp