Policy-rate changes in 2014-11 (7)

Hikes2

Cuts5

Largest move+150 bp

Iceland-25 bp

Romania-25 bp

Russia+150 bp

Serbia-50 bp

Indonesia+25 bp

China-40 bp

Indonesia-25 bp

Date	Country / region	From	To	Change
Nov 5, 2014	Iceland	5.25%	5.00%	cut -25 bp
Nov 5, 2014	Romania	3.00%	2.75%	cut -25 bp
Nov 5, 2014	Russia	8.00%	9.50%	hike +150 bp
Nov 13, 2014	Serbia	8.50%	8.00%	cut -50 bp
Nov 18, 2014	Indonesia	7.50%	7.75%	hike +25 bp
Nov 22, 2014	China	6.00%	5.60%	cut -40 bp
Nov 25, 2014	Indonesia	7.75%	7.50%	cut -25 bp