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Policy rates worldwide in 2003: 139 hikes, 242 cuts

Areas36

Hikes139

Cuts242

Median at year end4.75%

Rate at year end

Türkiye26%

Romania21.25%

Brazil16.5%

Russia16%

Hungary12.5%

Serbia9%

South Africa8%

Colombia7.25%

India7%

Philippines6.75%

North Macedonia6.65%

Mexico6.12%

China5.31%

Poland5.25%

Australia5.25%

Israel5.2%

Iceland5.16%

New Zealand5%

Malaysia4.5%

South Korea3.75%

United Kingdom3.75%

Morocco3.25%

Kuwait3.25%

Sweden2.75%

Canada2.75%

Peru2.5%

Hong Kong2.5%

Norway2.25%

Chile2.25%

Denmark2.15%

Euro area2%

Czechia2%

Saudi Arabia1.75%

Thailand1.25%

United States1%

Switzerland0.375%

Number of changes

Mexico224

North Macedonia61

Brazil9

Israel9

Norway7

Poland6

Romania6

Türkiye6

Hungary5

South Africa5

Canada4

Czechia3

United Kingdom3

Denmark3

Sweden3

New Zealand3

Chile2

Colombia2

Russia2

India2

Euro area2

South Korea2

Australia2

Serbia1

Iceland1

Switzerland1

Malaysia1

United States1

Hong Kong1

Thailand1

Saudi Arabia1

Philippines1

Peru1

All changes

Date	Country / region	From	To	Change
Jan 2, 2003	Mexico	8.25%	7.83%	cut -42 bp
Jan 3, 2003	Mexico	7.83%	7.82%	cut -1 bp
Jan 6, 2003	Mexico	7.82%	7.70%	cut -12 bp
Jan 7, 2003	Mexico	7.70%	7.83%	hike +13 bp
Jan 8, 2003	North Macedonia	15.22%	14.88%	cut -34 bp
Jan 8, 2003	Mexico	7.83%	7.80%	cut -3 bp
Jan 9, 2003	Mexico	7.80%	7.75%	cut -5 bp
Jan 10, 2003	Chile	3.00%	2.75%	cut -25 bp
Jan 10, 2003	North Macedonia	14.88%	14.06%	cut -82 bp
Jan 10, 2003	Mexico	7.75%	7.82%	hike +7 bp
Jan 11, 2003	Serbia	9.50%	9.00%	cut -50 bp
Jan 13, 2003	North Macedonia	14.06%	13.46%	cut -60 bp
Jan 13, 2003	Mexico	7.82%	8.07%	hike +25 bp
Jan 14, 2003	Mexico	8.07%	8.16%	hike +9 bp
Jan 15, 2003	North Macedonia	13.46%	13.68%	hike +22 bp
Jan 15, 2003	Mexico	8.16%	6.06%	cut -210 bp
Jan 16, 2003	Hungary	8.50%	7.50%	cut -100 bp
Jan 16, 2003	Mexico	6.06%	8.12%	hike +206 bp
Jan 17, 2003	Hungary	7.50%	6.50%	cut -100 bp
Jan 17, 2003	North Macedonia	13.68%	14.37%	hike +69 bp
Jan 17, 2003	Mexico	8.12%	8.26%	hike +14 bp
Jan 20, 2003	Colombia	5.25%	6.25%	hike +100 bp
Jan 20, 2003	North Macedonia	14.37%	15.46%	hike +109 bp
Jan 20, 2003	Mexico	8.26%	8.25%	cut -1 bp
Jan 21, 2003	Mexico	8.25%	8.36%	hike +11 bp
Jan 22, 2003	North Macedonia	15.46%	15.56%	hike +10 bp
Jan 22, 2003	Mexico	8.36%	9.11%	hike +75 bp
Jan 23, 2003	Brazil	25.00%	25.50%	hike +50 bp
Jan 23, 2003	Mexico	9.11%	9.08%	cut -3 bp
Jan 23, 2003	Norway	6.50%	6.00%	cut -50 bp
Jan 24, 2003	North Macedonia	15.56%	15.82%	hike +26 bp
Jan 24, 2003	Mexico	9.08%	9.11%	hike +3 bp
Jan 27, 2003	North Macedonia	15.82%	15.86%	hike +4 bp
Jan 27, 2003	Mexico	9.11%	9.09%	cut -2 bp
Jan 28, 2003	Mexico	9.09%	9.10%	hike +1 bp
Jan 29, 2003	North Macedonia	15.86%	15.60%	cut -26 bp
Jan 29, 2003	Mexico	9.10%	9.05%	cut -5 bp
Jan 30, 2003	Mexico	9.05%	8.98%	cut -7 bp
Jan 30, 2003	Poland	6.75%	6.50%	cut -25 bp
Jan 31, 2003	Czechia	2.75%	2.50%	cut -25 bp
Jan 31, 2003	North Macedonia	15.60%	15.05%	cut -55 bp
Jan 31, 2003	Mexico	8.98%	9.01%	hike +3 bp
Feb 3, 2003	North Macedonia	15.05%	15.30%	hike +25 bp
Feb 3, 2003	Mexico	9.01%	8.83%	cut -18 bp
Feb 4, 2003	Mexico	8.83%	9.00%	hike +17 bp
Feb 5, 2003	North Macedonia	15.30%	15.40%	hike +10 bp
Feb 6, 2003	United Kingdom	4.00%	3.75%	cut -25 bp
Feb 6, 2003	Mexico	9.00%	8.83%	cut -17 bp
Feb 6, 2003	Romania	19.75%	19.00%	cut -75 bp
Feb 7, 2003	North Macedonia	15.40%	15.10%	cut -30 bp
Feb 7, 2003	Mexico	8.83%	9.04%	hike +21 bp
Feb 10, 2003	Iceland	5.63%	5.16%	cut -47 bp
Feb 10, 2003	North Macedonia	15.10%	14.41%	cut -69 bp
Feb 10, 2003	Mexico	9.04%	9.89%	hike +85 bp
Feb 11, 2003	Mexico	9.89%	9.38%	cut -51 bp
Feb 12, 2003	North Macedonia	14.41%	13.95%	cut -46 bp
Feb 12, 2003	Mexico	9.38%	8.04%	cut -134 bp
Feb 13, 2003	Mexico	8.04%	9.44%	hike +140 bp
Feb 14, 2003	North Macedonia	13.95%	13.57%	cut -38 bp
Feb 14, 2003	Mexico	9.44%	9.43%	cut -1 bp
Feb 17, 2003	North Macedonia	13.57%	13.41%	cut -16 bp
Feb 17, 2003	Mexico	9.43%	9.16%	cut -27 bp
Feb 17, 2003	Russia	21.00%	18.00%	cut -300 bp
Feb 19, 2003	North Macedonia	13.41%	12.84%	cut -57 bp
Feb 19, 2003	Mexico	9.16%	9.09%	cut -7 bp
Feb 20, 2003	Brazil	25.50%	26.50%	hike +100 bp
Feb 20, 2003	Mexico	9.09%	8.86%	cut -23 bp
Feb 21, 2003	North Macedonia	12.84%	12.02%	cut -82 bp
Feb 21, 2003	Mexico	8.86%	9.03%	hike +17 bp
Feb 24, 2003	North Macedonia	12.02%	12.19%	hike +17 bp
Feb 24, 2003	Mexico	9.03%	9.02%	cut -1 bp
Feb 25, 2003	Mexico	9.02%	9.27%	hike +25 bp
Feb 26, 2003	North Macedonia	12.19%	11.88%	cut -31 bp
Feb 26, 2003	Mexico	9.27%	9.26%	cut -1 bp
Feb 27, 2003	Mexico	9.26%	9.27%	hike +1 bp
Feb 27, 2003	Poland	6.50%	6.25%	cut -25 bp
Feb 28, 2003	North Macedonia	11.88%	11.42%	cut -46 bp
Mar 3, 2003	North Macedonia	11.42%	10.76%	cut -66 bp
Mar 4, 2003	Canada	2.75%	3.00%	hike +25 bp
Mar 4, 2003	Mexico	9.27%	9.43%	hike +16 bp
Mar 5, 2003	North Macedonia	10.76%	10.35%	cut -41 bp
Mar 5, 2003	Mexico	9.43%	9.53%	hike +10 bp
Mar 6, 2003	Switzerland	0.75%	0.375%	cut -38 bp
Mar 6, 2003	Mexico	9.53%	9.77%	hike +24 bp
Mar 6, 2003	Norway	6.00%	5.50%	cut -50 bp
Mar 7, 2003	Denmark	2.95%	2.70%	cut -25 bp
Mar 7, 2003	India	7.50%	7.10%	cut -40 bp
Mar 7, 2003	North Macedonia	10.35%	10.36%	hike +1 bp
Mar 7, 2003	Mexico	9.77%	9.86%	hike +9 bp
Mar 7, 2003	Euro area	2.75%	2.50%	cut -25 bp
Mar 10, 2003	North Macedonia	10.36%	9.96%	cut -40 bp
Mar 10, 2003	Mexico	9.86%	9.87%	hike +1 bp
Mar 11, 2003	Mexico	9.87%	9.80%	cut -7 bp
Mar 12, 2003	North Macedonia	9.96%	9.98%	hike +2 bp
Mar 12, 2003	Mexico	9.80%	8.18%	cut -162 bp
Mar 13, 2003	Mexico	8.18%	9.21%	hike +103 bp
Mar 14, 2003	North Macedonia	9.98%	9.76%	cut -22 bp
Mar 14, 2003	Mexico	9.21%	9.05%	cut -16 bp
Mar 17, 2003	North Macedonia	9.76%	9.75%	cut -1 bp
Mar 17, 2003	Mexico	9.05%	9.12%	hike +7 bp
Mar 18, 2003	Mexico	9.12%	8.97%	cut -15 bp
Mar 19, 2003	India	7.10%	7.00%	cut -10 bp
Mar 19, 2003	North Macedonia	9.75%	9.49%	cut -26 bp
Mar 19, 2003	Mexico	8.97%	9.04%	hike +7 bp
Mar 19, 2003	Sweden	3.75%	3.50%	cut -25 bp
Mar 20, 2003	Mexico	9.04%	8.96%	cut -8 bp
Mar 21, 2003	North Macedonia	9.49%	9.12%	cut -37 bp
Mar 24, 2003	North Macedonia	9.12%	8.98%	cut -14 bp
Mar 24, 2003	Mexico	8.96%	8.68%	cut -28 bp
Mar 25, 2003	Mexico	8.68%	8.55%	cut -13 bp
Mar 26, 2003	North Macedonia	8.98%	8.65%	cut -33 bp
Mar 26, 2003	Mexico	8.55%	8.34%	cut -21 bp
Mar 26, 2003	Romania	19.00%	18.50%	cut -50 bp
Mar 27, 2003	Israel	8.90%	8.70%	cut -20 bp
Mar 27, 2003	Mexico	8.34%	8.36%	hike +2 bp
Mar 27, 2003	Poland	6.25%	6.00%	cut -25 bp
Mar 28, 2003	North Macedonia	8.65%	8.37%	cut -28 bp
Mar 28, 2003	Mexico	8.36%	8.72%	hike +36 bp
Mar 31, 2003	North Macedonia	8.37%	7.93%	cut -44 bp
Mar 31, 2003	Mexico	8.72%	8.92%	hike +20 bp
Apr 1, 2003	Mexico	8.92%	8.93%	hike +1 bp
Apr 2, 2003	North Macedonia	7.93%	7.52%	cut -41 bp
Apr 2, 2003	Mexico	8.93%	8.56%	cut -37 bp
Apr 3, 2003	Mexico	8.56%	8.46%	cut -10 bp
Apr 4, 2003	North Macedonia	7.52%	7.07%	cut -45 bp
Apr 7, 2003	North Macedonia	7.07%	6.78%	cut -29 bp
Apr 7, 2003	Mexico	8.46%	8.28%	cut -18 bp
Apr 8, 2003	Mexico	8.28%	8.29%	hike +1 bp
Apr 9, 2003	North Macedonia	6.78%	6.94%	hike +16 bp
Apr 9, 2003	Mexico	8.29%	7.28%	cut -101 bp
Apr 10, 2003	Mexico	7.28%	8.37%	hike +109 bp
Apr 11, 2003	North Macedonia	6.94%	7.00%	hike +6 bp
Apr 11, 2003	Mexico	8.37%	8.09%	cut -28 bp
Apr 14, 2003	Mexico	8.09%	7.94%	cut -15 bp
Apr 15, 2003	Canada	3.00%	3.25%	hike +25 bp
Apr 16, 2003	Mexico	7.94%	7.71%	cut -23 bp
Apr 21, 2003	Mexico	7.71%	7.62%	cut -9 bp
Apr 22, 2003	Mexico	7.62%	7.59%	cut -3 bp
Apr 24, 2003	Mexico	7.59%	7.33%	cut -26 bp
Apr 24, 2003	New Zealand	5.75%	5.50%	cut -25 bp
Apr 25, 2003	Mexico	7.33%	6.86%	cut -47 bp
Apr 25, 2003	Poland	6.00%	5.75%	cut -25 bp
Apr 25, 2003	Türkiye	44.00%	41.00%	cut -300 bp
Apr 28, 2003	Mexico	6.86%	6.78%	cut -8 bp
Apr 29, 2003	Colombia	6.25%	7.25%	hike +100 bp
Apr 29, 2003	Mexico	6.78%	6.32%	cut -46 bp
Apr 30, 2003	Mexico	6.32%	5.85%	cut -47 bp
May 1, 2003	Israel	8.70%	8.40%	cut -30 bp
May 2, 2003	Mexico	5.85%	5.72%	cut -13 bp
May 2, 2003	Norway	5.50%	5.00%	cut -50 bp
May 5, 2003	Mexico	5.72%	5.52%	cut -20 bp
May 6, 2003	Mexico	5.52%	5.56%	hike +4 bp
May 7, 2003	Mexico	5.56%	5.60%	hike +4 bp
May 8, 2003	Mexico	5.60%	5.59%	cut -1 bp
May 8, 2003	Romania	18.50%	18.25%	cut -25 bp
May 9, 2003	Mexico	5.59%	5.06%	cut -53 bp
May 12, 2003	Mexico	5.06%	4.80%	cut -26 bp
May 13, 2003	South Korea	4.25%	4.00%	cut -25 bp
May 14, 2003	Mexico	4.80%	4.58%	cut -22 bp
May 15, 2003	Mexico	4.58%	5.06%	hike +48 bp
May 16, 2003	Mexico	5.06%	5.56%	hike +50 bp
May 19, 2003	Mexico	5.56%	5.57%	hike +1 bp
May 20, 2003	Mexico	5.57%	5.54%	cut -3 bp
May 21, 2003	Mexico	5.54%	5.28%	cut -26 bp
May 21, 2003	Malaysia	5.00%	4.50%	cut -50 bp
May 22, 2003	Mexico	5.28%	5.05%	cut -23 bp
May 23, 2003	Denmark	2.70%	2.65%	cut -5 bp
May 23, 2003	Mexico	5.05%	4.79%	cut -26 bp
May 26, 2003	Mexico	4.79%	4.80%	hike +1 bp
May 27, 2003	Mexico	4.80%	4.82%	hike +2 bp
May 28, 2003	Mexico	4.82%	4.88%	hike +6 bp
May 29, 2003	Israel	8.40%	8.00%	cut -40 bp
May 29, 2003	Mexico	4.88%	4.81%	cut -7 bp
May 29, 2003	Poland	5.75%	5.50%	cut -25 bp
May 30, 2003	Mexico	4.81%	4.79%	cut -2 bp
Jun 2, 2003	Mexico	4.79%	4.70%	cut -9 bp
Jun 3, 2003	Mexico	4.70%	4.56%	cut -14 bp
Jun 4, 2003	Mexico	4.56%	4.59%	hike +3 bp
Jun 4, 2003	Türkiye	41.00%	38.00%	cut -300 bp
Jun 5, 2003	Mexico	4.59%	5.56%	hike +97 bp
Jun 5, 2003	New Zealand	5.50%	5.25%	cut -25 bp
Jun 6, 2003	Denmark	2.65%	2.15%	cut -50 bp
Jun 6, 2003	Mexico	5.56%	5.51%	cut -5 bp
Jun 6, 2003	Euro area	2.50%	2.00%	cut -50 bp
Jun 9, 2003	Mexico	5.51%	5.71%	hike +20 bp
Jun 10, 2003	Mexico	5.71%	5.98%	hike +27 bp
Jun 11, 2003	Hungary	6.50%	7.50%	hike +100 bp
Jun 11, 2003	Mexico	5.98%	5.77%	cut -21 bp
Jun 11, 2003	Sweden	3.50%	3.00%	cut -50 bp
Jun 12, 2003	Mexico	5.77%	5.65%	cut -12 bp
Jun 13, 2003	Mexico	5.65%	5.62%	cut -3 bp
Jun 13, 2003	South Africa	13.50%	12.00%	cut -150 bp
Jun 16, 2003	Mexico	5.62%	5.63%	hike +1 bp
Jun 17, 2003	Mexico	5.63%	5.61%	cut -2 bp
Jun 18, 2003	Mexico	5.61%	5.69%	hike +8 bp
Jun 19, 2003	Hungary	7.50%	9.50%	hike +200 bp
Jun 19, 2003	Mexico	5.69%	5.72%	hike +3 bp
Jun 20, 2003	Brazil	26.50%	26.00%	cut -50 bp
Jun 20, 2003	Mexico	5.72%	5.27%	cut -45 bp
Jun 21, 2003	Russia	18.00%	16.00%	cut -200 bp
Jun 23, 2003	Mexico	5.27%	5.13%	cut -14 bp
Jun 24, 2003	Mexico	5.13%	5.05%	cut -8 bp
Jun 25, 2003	Mexico	5.05%	4.92%	cut -13 bp
Jun 25, 2003	United States	1.25%	1.00%	cut -25 bp
Jun 26, 2003	Czechia	2.50%	2.25%	cut -25 bp
Jun 26, 2003	Hong Kong	2.75%	2.50%	cut -25 bp
Jun 26, 2003	Israel	8.00%	7.50%	cut -50 bp
Jun 26, 2003	Mexico	4.92%	4.63%	cut -29 bp
Jun 26, 2003	Norway	5.00%	4.00%	cut -100 bp
Jun 26, 2003	Poland	5.50%	5.25%	cut -25 bp
Jun 27, 2003	Mexico	4.63%	4.60%	cut -3 bp
Jun 27, 2003	Thailand	1.75%	1.25%	cut -50 bp
Jun 28, 2003	Saudi Arabia	2.00%	1.75%	cut -25 bp
Jun 30, 2003	Mexico	4.60%	4.36%	cut -24 bp
Jul 2, 2003	Philippines	7.00%	6.75%	cut -25 bp
Jul 3, 2003	Mexico	4.36%	4.39%	hike +3 bp
Jul 4, 2003	Mexico	4.39%	4.37%	cut -2 bp
Jul 8, 2003	Mexico	4.37%	4.89%	hike +52 bp
Jul 9, 2003	Mexico	4.89%	4.96%	hike +7 bp
Jul 9, 2003	Sweden	3.00%	2.75%	cut -25 bp
Jul 10, 2003	United Kingdom	3.75%	3.50%	cut -25 bp
Jul 10, 2003	South Korea	4.00%	3.75%	cut -25 bp
Jul 10, 2003	Mexico	4.96%	4.97%	hike +1 bp
Jul 11, 2003	Mexico	4.97%	5.12%	hike +15 bp
Jul 14, 2003	Mexico	5.12%	4.96%	cut -16 bp
Jul 15, 2003	Canada	3.25%	3.00%	cut -25 bp
Jul 15, 2003	Mexico	4.96%	4.94%	cut -2 bp
Jul 16, 2003	Türkiye	38.00%	35.00%	cut -300 bp
Jul 17, 2003	Mexico	4.94%	4.54%	cut -40 bp
Jul 18, 2003	Mexico	4.54%	4.51%	cut -3 bp
Jul 21, 2003	Mexico	4.51%	4.43%	cut -8 bp
Jul 22, 2003	Mexico	4.43%	4.27%	cut -16 bp
Jul 23, 2003	Mexico	4.27%	4.33%	hike +6 bp
Jul 24, 2003	Brazil	26.00%	24.50%	cut -150 bp
Jul 24, 2003	Mexico	4.33%	4.35%	hike +2 bp
Jul 24, 2003	New Zealand	5.25%	5.00%	cut -25 bp
Jul 25, 2003	Mexico	4.35%	4.13%	cut -22 bp
Jul 28, 2003	Mexico	4.13%	4.08%	cut -5 bp
Jul 29, 2003	Mexico	4.08%	4.07%	cut -1 bp
Jul 31, 2003	Israel	7.50%	7.00%	cut -50 bp
Aug 1, 2003	Czechia	2.25%	2.00%	cut -25 bp
Aug 1, 2003	Mexico	4.07%	4.09%	hike +2 bp
Aug 4, 2003	Mexico	4.09%	4.08%	cut -1 bp
Aug 5, 2003	Mexico	4.08%	4.18%	hike +10 bp
Aug 6, 2003	Mexico	4.18%	4.28%	hike +10 bp
Aug 6, 2003	Türkiye	35.00%	32.00%	cut -300 bp
Aug 7, 2003	Romania	18.25%	19.25%	hike +100 bp
Aug 8, 2003	Mexico	4.28%	4.15%	cut -13 bp
Aug 11, 2003	Mexico	4.15%	4.05%	cut -10 bp
Aug 12, 2003	Mexico	4.05%	4.15%	hike +10 bp
Aug 13, 2003	Mexico	4.15%	4.16%	hike +1 bp
Aug 13, 2003	Norway	4.00%	3.00%	cut -100 bp
Aug 15, 2003	Mexico	4.16%	4.15%	cut -1 bp
Aug 15, 2003	South Africa	12.00%	11.00%	cut -100 bp
Aug 19, 2003	Mexico	4.15%	4.20%	hike +5 bp
Aug 20, 2003	Mexico	4.20%	4.22%	hike +2 bp
Aug 21, 2003	Brazil	24.50%	22.00%	cut -250 bp
Aug 21, 2003	Mexico	4.22%	4.24%	hike +2 bp
Aug 25, 2003	Mexico	4.24%	4.25%	hike +1 bp
Aug 26, 2003	Mexico	4.25%	4.24%	cut -1 bp
Aug 27, 2003	Mexico	4.24%	4.34%	hike +10 bp
Aug 28, 2003	Israel	7.00%	6.50%	cut -50 bp
Aug 28, 2003	Mexico	4.34%	4.35%	hike +1 bp
Aug 29, 2003	Mexico	4.35%	4.57%	hike +22 bp
Sep 2, 2003	Mexico	4.57%	4.58%	hike +1 bp
Sep 3, 2003	Canada	3.00%	2.75%	cut -25 bp
Sep 3, 2003	Mexico	4.58%	4.48%	cut -10 bp
Sep 4, 2003	Mexico	4.48%	4.43%	cut -5 bp
Sep 5, 2003	Mexico	4.43%	4.30%	cut -13 bp
Sep 8, 2003	Mexico	4.30%	4.31%	hike +1 bp
Sep 9, 2003	Mexico	4.31%	4.30%	cut -1 bp
Sep 10, 2003	Mexico	4.30%	4.34%	hike +4 bp
Sep 11, 2003	Mexico	4.34%	4.33%	cut -1 bp
Sep 11, 2003	South Africa	11.00%	10.00%	cut -100 bp
Sep 12, 2003	Mexico	4.33%	4.34%	hike +1 bp
Sep 15, 2003	Mexico	4.34%	4.37%	hike +3 bp
Sep 17, 2003	Mexico	4.37%	4.25%	cut -12 bp
Sep 18, 2003	Brazil	22.00%	20.00%	cut -200 bp
Sep 18, 2003	Mexico	4.25%	4.33%	hike +8 bp
Sep 18, 2003	Norway	3.00%	2.50%	cut -50 bp
Sep 18, 2003	Türkiye	32.00%	29.00%	cut -300 bp
Sep 19, 2003	Mexico	4.33%	4.35%	hike +2 bp
Sep 22, 2003	Mexico	4.35%	4.26%	cut -9 bp
Sep 23, 2003	Mexico	4.26%	4.17%	cut -9 bp
Sep 24, 2003	Mexico	4.17%	4.18%	hike +1 bp
Sep 25, 2003	Israel	6.50%	6.10%	cut -40 bp
Sep 25, 2003	Mexico	4.18%	4.23%	hike +5 bp
Sep 29, 2003	Mexico	4.23%	4.32%	hike +9 bp
Sep 30, 2003	Mexico	4.32%	4.30%	cut -2 bp
Oct 1, 2003	Mexico	4.30%	4.27%	cut -3 bp
Oct 2, 2003	Mexico	4.27%	4.40%	hike +13 bp
Oct 2, 2003	Romania	19.25%	20.25%	hike +100 bp
Oct 3, 2003	Mexico	4.40%	4.73%	hike +33 bp
Oct 6, 2003	Mexico	4.73%	5.03%	hike +30 bp
Oct 7, 2003	Mexico	5.03%	5.46%	hike +43 bp
Oct 8, 2003	Mexico	5.46%	5.38%	cut -8 bp
Oct 9, 2003	Mexico	5.38%	5.44%	hike +6 bp
Oct 10, 2003	Mexico	5.44%	5.38%	cut -6 bp
Oct 13, 2003	Mexico	5.38%	5.31%	cut -7 bp
Oct 14, 2003	Mexico	5.31%	5.44%	hike +13 bp
Oct 15, 2003	Mexico	5.44%	5.45%	hike +1 bp
Oct 15, 2003	Türkiye	29.00%	26.00%	cut -300 bp
Oct 17, 2003	Mexico	5.45%	5.46%	hike +1 bp
Oct 17, 2003	South Africa	10.00%	8.50%	cut -150 bp
Oct 20, 2003	Mexico	5.46%	5.45%	cut -1 bp
Oct 21, 2003	Mexico	5.45%	5.31%	cut -14 bp
Oct 22, 2003	North Macedonia	7.00%	6.57%	cut -43 bp
Oct 23, 2003	Brazil	20.00%	19.00%	cut -100 bp
Oct 24, 2003	North Macedonia	6.57%	6.47%	cut -10 bp
Oct 24, 2003	Mexico	5.31%	5.15%	cut -16 bp
Oct 27, 2003	Mexico	5.15%	5.03%	cut -12 bp
Oct 28, 2003	Mexico	5.03%	5.02%	cut -1 bp
Oct 29, 2003	North Macedonia	6.47%	6.44%	cut -3 bp
Oct 29, 2003	Mexico	5.02%	4.66%	cut -36 bp
Oct 30, 2003	Israel	6.10%	5.60%	cut -50 bp
Oct 30, 2003	Mexico	4.66%	4.79%	hike +13 bp
Oct 31, 2003	North Macedonia	6.44%	6.38%	cut -6 bp
Oct 31, 2003	Mexico	4.79%	4.73%	cut -6 bp
Nov 3, 2003	Mexico	4.73%	4.62%	cut -11 bp
Nov 4, 2003	Mexico	4.62%	4.53%	cut -9 bp
Nov 5, 2003	Australia	4.75%	5.00%	hike +25 bp
Nov 5, 2003	North Macedonia	6.38%	6.40%	hike +2 bp
Nov 5, 2003	Mexico	4.53%	4.44%	cut -9 bp
Nov 6, 2003	United Kingdom	3.50%	3.75%	hike +25 bp
Nov 7, 2003	North Macedonia	6.40%	6.32%	cut -8 bp
Nov 7, 2003	Mexico	4.44%	4.45%	hike +1 bp
Nov 7, 2003	Peru	2.75%	2.50%	cut -25 bp
Nov 12, 2003	North Macedonia	6.32%	6.20%	cut -12 bp
Nov 12, 2003	Mexico	4.45%	4.46%	hike +1 bp
Nov 13, 2003	Mexico	4.46%	4.80%	hike +34 bp
Nov 14, 2003	North Macedonia	6.20%	6.19%	cut -1 bp
Nov 14, 2003	Mexico	4.80%	4.89%	hike +9 bp
Nov 17, 2003	Mexico	4.89%	5.16%	hike +27 bp
Nov 18, 2003	Mexico	5.16%	5.09%	cut -7 bp
Nov 19, 2003	North Macedonia	6.19%	6.08%	cut -11 bp
Nov 19, 2003	Mexico	5.09%	5.14%	hike +5 bp
Nov 20, 2003	Brazil	19.00%	17.50%	cut -150 bp
Nov 20, 2003	Romania	20.25%	21.25%	hike +100 bp
Nov 21, 2003	North Macedonia	6.08%	6.00%	cut -8 bp
Nov 21, 2003	Mexico	5.14%	5.23%	hike +9 bp
Nov 24, 2003	Mexico	5.23%	5.26%	hike +3 bp
Nov 25, 2003	Mexico	5.26%	5.52%	hike +26 bp
Nov 26, 2003	North Macedonia	6.00%	5.91%	cut -9 bp
Nov 26, 2003	Mexico	5.52%	5.77%	hike +25 bp
Nov 27, 2003	Israel	5.60%	5.20%	cut -40 bp
Nov 27, 2003	Mexico	5.77%	5.85%	hike +8 bp
Nov 28, 2003	Hungary	9.50%	12.50%	hike +300 bp
Nov 28, 2003	North Macedonia	5.91%	5.79%	cut -12 bp
Nov 28, 2003	Mexico	5.85%	6.26%	hike +41 bp
Dec 1, 2003	Mexico	6.26%	6.39%	hike +13 bp
Dec 2, 2003	Mexico	6.39%	6.37%	cut -2 bp
Dec 3, 2003	Australia	5.00%	5.25%	hike +25 bp
Dec 3, 2003	North Macedonia	5.79%	5.75%	cut -4 bp
Dec 3, 2003	Mexico	6.37%	6.35%	cut -2 bp
Dec 4, 2003	Mexico	6.35%	6.19%	cut -16 bp
Dec 5, 2003	North Macedonia	5.75%	5.77%	hike +2 bp
Dec 5, 2003	Mexico	6.19%	6.11%	cut -8 bp
Dec 8, 2003	Mexico	6.11%	6.03%	cut -8 bp
Dec 9, 2003	Mexico	6.03%	5.81%	cut -22 bp
Dec 10, 2003	North Macedonia	5.77%	5.79%	hike +2 bp
Dec 10, 2003	Mexico	5.81%	5.82%	hike +1 bp
Dec 11, 2003	Mexico	5.82%	5.80%	cut -2 bp
Dec 12, 2003	Chile	2.75%	2.25%	cut -50 bp
Dec 12, 2003	North Macedonia	5.79%	5.63%	cut -16 bp
Dec 12, 2003	South Africa	8.50%	8.00%	cut -50 bp
Dec 15, 2003	Mexico	5.80%	5.91%	hike +11 bp
Dec 16, 2003	Mexico	5.91%	6.06%	hike +15 bp
Dec 17, 2003	North Macedonia	5.63%	6.14%	hike +51 bp
Dec 17, 2003	Mexico	6.06%	6.01%	cut -5 bp
Dec 18, 2003	Brazil	17.50%	16.50%	cut -100 bp
Dec 18, 2003	Mexico	6.01%	6.02%	hike +1 bp
Dec 18, 2003	Norway	2.50%	2.25%	cut -25 bp
Dec 22, 2003	Mexico	6.02%	6.11%	hike +9 bp
Dec 23, 2003	Mexico	6.11%	6.10%	cut -1 bp
Dec 24, 2003	North Macedonia	6.14%	6.55%	hike +41 bp
Dec 24, 2003	Mexico	6.10%	6.12%	hike +2 bp
Dec 26, 2003	North Macedonia	6.55%	6.75%	hike +20 bp
Dec 26, 2003	Mexico	6.12%	6.11%	cut -1 bp
Dec 30, 2003	Mexico	6.11%	6.10%	cut -1 bp
Dec 31, 2003	North Macedonia	6.75%	6.65%	cut -10 bp
Dec 31, 2003	Mexico	6.10%	6.12%	hike +2 bp

Daily policy-rate data compiled by the BIS. Not investment advice.