Policy-rate changes in 2012-03 (6)

Hikes1

Cuts5

Largest move-75 bp

Philippines-25 bp

Brazil-75 bp

Norway-25 bp

Iceland+25 bp

Morocco-25 bp

Romania-25 bp

Date	Country / region	From	To	Change
Mar 1, 2012	Philippines	4.25%	4.00%	cut -25 bp
Mar 8, 2012	Brazil	10.50%	9.75%	cut -75 bp
Mar 15, 2012	Norway	1.75%	1.50%	cut -25 bp
Mar 21, 2012	Iceland	4.125%	4.375%	hike +25 bp
Mar 27, 2012	Morocco	3.25%	3.00%	cut -25 bp
Mar 30, 2012	Romania	5.50%	5.25%	cut -25 bp