Policy-rate changes in 2012-05 (7)

Hikes2

Cuts5

Largest move-50 bp

Australia-50 bp

North Macedonia-1 bp

North Macedonia-22 bp

Poland+25 bp

Iceland+50 bp

Denmark-10 bp

Brazil-50 bp

Date	Country / region	From	To	Change
May 2, 2012	Australia	4.25%	3.75%	cut -50 bp
May 2, 2012	North Macedonia	3.94%	3.93%	cut -1 bp
May 9, 2012	North Macedonia	3.93%	3.71%	cut -22 bp
May 10, 2012	Poland	4.50%	4.75%	hike +25 bp
May 16, 2012	Iceland	4.375%	4.875%	hike +50 bp
May 25, 2012	Denmark	0.30%	0.20%	cut -10 bp
May 31, 2012	Brazil	9.00%	8.50%	cut -50 bp