Policy-rate changes in 2012-07 (10)

Hikes1

Cuts9

Largest move-50 bp

Russia-25 bp

China-31 bp

Denmark-25 bp

Euro area-25 bp

Brazil-50 bp

South Korea-25 bp

Serbia+25 bp

South Africa-50 bp

Philippines-25 bp

Colombia-25 bp

Date	Country / region	From	To	Change
Jul 3, 2012	Russia	8.25%	8.00%	cut -25 bp
Jul 6, 2012	China	6.31%	6.00%	cut -31 bp
Jul 6, 2012	Denmark	0.05%	-0.20%	cut -25 bp
Jul 11, 2012	Euro area	1.00%	0.75%	cut -25 bp
Jul 12, 2012	Brazil	8.50%	8.00%	cut -50 bp
Jul 12, 2012	South Korea	3.25%	3.00%	cut -25 bp
Jul 12, 2012	Serbia	10.00%	10.25%	hike +25 bp
Jul 20, 2012	South Africa	5.50%	5.00%	cut -50 bp
Jul 26, 2012	Philippines	4.00%	3.75%	cut -25 bp
Jul 30, 2012	Colombia	5.25%	5.00%	cut -25 bp