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Policy rates worldwide in 2005: 134 hikes, 95 cuts

Areas37

Hikes134

Cuts95

Median at year end5.50%

Rate at year end

Brazil18%

Türkiye13.5%

Indonesia12.75%

Russia12%

Iceland9.97%

Serbia8.5%

North Macedonia8.37%

Mexico8.27%

Romania7.5%

Philippines7.5%

New Zealand7.25%

South Africa7%

India6.25%

Kuwait6%

Hungary6%

Colombia6%

Hong Kong5.75%

China5.58%

Australia5.5%

Saudi Arabia4.75%

Poland4.5%

Israel4.5%

United Kingdom4.5%

Chile4.5%

United States4.25%

Thailand4%

South Korea3.75%

Peru3.25%

Morocco3.25%

Canada3.25%

Malaysia3%

Denmark2.4%

Euro area2.25%

Norway2.25%

Czechia2%

Sweden1.5%

Switzerland1%

Number of changes

Mexico80

North Macedonia20

Türkiye9

Chile9

Brazil9

Hungary9

United States8

Hong Kong8

Saudi Arabia8

Iceland7

Romania6

Thailand6

Kuwait5

Poland5

Indonesia5

Israel4

Czechia4

Australia3

New Zealand3

Philippines3

Canada3

Norway2

South Korea2

South Africa1

Sweden1

United Kingdom1

Colombia1

India1

Malaysia1

Denmark1

Peru1

Euro area1

Switzerland1

Russia1

All changes

Date	Country / region	From	To	Change
Jan 3, 2005	Mexico	8.75%	8.73%	cut -2 bp
Jan 6, 2005	Mexico	8.73%	8.72%	cut -1 bp
Jan 7, 2005	Mexico	8.72%	8.73%	hike +1 bp
Jan 11, 2005	Mexico	8.73%	8.72%	cut -1 bp
Jan 11, 2005	Türkiye	18.00%	17.00%	cut -100 bp
Jan 12, 2005	Chile	2.25%	2.50%	hike +25 bp
Jan 12, 2005	Mexico	8.72%	8.73%	hike +1 bp
Jan 13, 2005	Mexico	8.73%	8.72%	cut -1 bp
Jan 17, 2005	Romania	17.00%	16.50%	cut -50 bp
Jan 20, 2005	Brazil	17.75%	18.25%	hike +50 bp
Jan 21, 2005	Mexico	8.72%	8.73%	hike +1 bp
Jan 25, 2005	Hungary	9.50%	9.00%	cut -50 bp
Jan 25, 2005	Mexico	8.73%	8.72%	cut -1 bp
Jan 27, 2005	Israel	3.70%	3.50%	cut -20 bp
Jan 28, 2005	Czechia	2.50%	2.25%	cut -25 bp
Jan 28, 2005	Mexico	8.72%	8.81%	hike +9 bp
Jan 31, 2005	Mexico	8.81%	8.82%	hike +1 bp
Feb 1, 2005	Mexico	8.82%	8.90%	hike +8 bp
Feb 2, 2005	United States	2.25%	2.50%	hike +25 bp
Feb 3, 2005	Hong Kong	3.75%	4.00%	hike +25 bp
Feb 3, 2005	Kuwait	4.75%	5.00%	hike +25 bp
Feb 3, 2005	Mexico	8.90%	9.06%	hike +16 bp
Feb 4, 2005	Mexico	9.06%	9.09%	hike +3 bp
Feb 5, 2005	Saudi Arabia	2.50%	2.75%	hike +25 bp
Feb 7, 2005	Mexico	9.09%	9.10%	hike +1 bp
Feb 8, 2005	Mexico	9.10%	9.12%	hike +2 bp
Feb 9, 2005	Mexico	9.12%	9.15%	hike +3 bp
Feb 9, 2005	Türkiye	17.00%	16.50%	cut -50 bp
Feb 11, 2005	Chile	2.50%	2.75%	hike +25 bp
Feb 14, 2005	Romania	16.50%	15.75%	cut -75 bp
Feb 17, 2005	Brazil	18.25%	18.75%	hike +50 bp
Feb 17, 2005	Mexico	9.15%	9.16%	hike +1 bp
Feb 18, 2005	Iceland	7.92%	8.38%	hike +46 bp
Feb 18, 2005	Mexico	9.16%	9.15%	cut -1 bp
Feb 22, 2005	Hungary	9.00%	8.25%	cut -75 bp
Feb 24, 2005	Mexico	9.15%	9.16%	hike +1 bp
Feb 25, 2005	Mexico	9.16%	9.28%	hike +12 bp
Feb 28, 2005	Mexico	9.28%	9.21%	cut -7 bp
Mar 2, 2005	Australia	5.25%	5.50%	hike +25 bp
Mar 2, 2005	Mexico	9.21%	9.20%	cut -1 bp
Mar 2, 2005	Thailand	2.00%	2.25%	hike +25 bp
Mar 3, 2005	Mexico	9.20%	9.21%	hike +1 bp
Mar 4, 2005	Mexico	9.21%	9.20%	cut -1 bp
Mar 9, 2005	Türkiye	16.50%	15.50%	cut -100 bp
Mar 10, 2005	New Zealand	6.50%	6.75%	hike +25 bp
Mar 14, 2005	Romania	15.75%	14.50%	cut -125 bp
Mar 17, 2005	Brazil	18.75%	19.25%	hike +50 bp
Mar 18, 2005	Mexico	9.20%	9.21%	hike +1 bp
Mar 22, 2005	Iceland	8.38%	8.61%	hike +23 bp
Mar 22, 2005	Mexico	9.21%	9.20%	cut -1 bp
Mar 22, 2005	United States	2.50%	2.75%	hike +25 bp
Mar 23, 2005	Hong Kong	4.00%	4.25%	hike +25 bp
Mar 23, 2005	Kuwait	5.00%	5.25%	hike +25 bp
Mar 23, 2005	Mexico	9.20%	9.50%	hike +30 bp
Mar 26, 2005	Saudi Arabia	2.75%	3.25%	hike +50 bp
Mar 30, 2005	Hungary	8.25%	7.75%	cut -50 bp
Mar 31, 2005	Mexico	9.50%	9.51%	hike +1 bp
Mar 31, 2005	Poland	6.50%	6.00%	cut -50 bp
Apr 1, 2005	Czechia	2.25%	2.00%	cut -25 bp
Apr 1, 2005	Mexico	9.51%	9.50%	cut -1 bp
Apr 7, 2005	Philippines	6.75%	7.00%	hike +25 bp
Apr 8, 2005	Chile	2.75%	3.00%	hike +25 bp
Apr 11, 2005	Australia	5.50%	5.501%	cut 0 bp
Apr 11, 2005	Romania	14.50%	12.50%	cut -200 bp
Apr 11, 2005	Türkiye	15.50%	15.00%	cut -50 bp
Apr 12, 2005	Australia	5.501%	5.50%	cut 0 bp
Apr 12, 2005	Mexico	9.50%	9.51%	hike +1 bp
Apr 13, 2005	Mexico	9.51%	9.52%	hike +1 bp
Apr 14, 2005	Mexico	9.52%	9.53%	hike +1 bp
Apr 14, 2005	South Africa	7.50%	7.00%	cut -50 bp
Apr 15, 2005	Mexico	9.53%	9.55%	hike +2 bp
Apr 18, 2005	Mexico	9.55%	9.52%	cut -3 bp
Apr 19, 2005	Mexico	9.52%	9.53%	hike +1 bp
Apr 20, 2005	Mexico	9.53%	9.52%	cut -1 bp
Apr 21, 2005	Brazil	19.25%	19.50%	hike +25 bp
Apr 21, 2005	Mexico	9.52%	9.51%	cut -1 bp
Apr 22, 2005	Mexico	9.51%	9.52%	hike +1 bp
Apr 25, 2005	Mexico	9.52%	9.51%	cut -1 bp
Apr 26, 2005	Hungary	7.75%	7.50%	cut -25 bp
Apr 26, 2005	Mexico	9.51%	9.52%	hike +1 bp
Apr 28, 2005	Mexico	9.52%	9.53%	hike +1 bp
Apr 28, 2005	Poland	6.00%	5.50%	cut -50 bp
Apr 29, 2005	Czechia	2.00%	1.75%	cut -25 bp
Apr 29, 2005	Mexico	9.53%	9.60%	hike +7 bp
May 2, 2005	Mexico	9.60%	9.53%	cut -7 bp
May 3, 2005	Mexico	9.53%	9.54%	hike +1 bp
May 3, 2005	United States	2.75%	3.00%	hike +25 bp
May 4, 2005	Hong Kong	4.25%	4.50%	hike +25 bp
May 4, 2005	Mexico	9.54%	9.78%	hike +24 bp
May 4, 2005	Saudi Arabia	3.25%	3.50%	hike +25 bp
May 6, 2005	Mexico	9.78%	9.79%	hike +1 bp
May 10, 2005	Mexico	9.79%	9.88%	hike +9 bp
May 10, 2005	Türkiye	15.00%	14.50%	cut -50 bp
May 12, 2005	Mexico	9.88%	9.78%	cut -10 bp
May 13, 2005	Chile	3.00%	3.25%	hike +25 bp
May 13, 2005	Mexico	9.78%	9.76%	cut -2 bp
May 16, 2005	Mexico	9.76%	9.75%	cut -1 bp
May 19, 2005	Brazil	19.50%	19.75%	hike +25 bp
May 20, 2005	Mexico	9.75%	9.74%	cut -1 bp
May 24, 2005	Hungary	7.50%	7.25%	cut -25 bp
May 24, 2005	Mexico	9.74%	9.75%	hike +1 bp
Jun 3, 2005	Iceland	8.61%	9.07%	hike +46 bp
Jun 9, 2005	Thailand	2.25%	2.50%	hike +25 bp
Jun 9, 2005	Türkiye	14.50%	14.25%	cut -25 bp
Jun 21, 2005	Hungary	7.25%	7.00%	cut -25 bp
Jun 22, 2005	Sweden	2.00%	1.50%	cut -50 bp
Jun 30, 2005	Mexico	9.75%	9.76%	hike +1 bp
Jun 30, 2005	Poland	5.50%	5.00%	cut -50 bp
Jun 30, 2005	United States	3.00%	3.25%	hike +25 bp
Jul 1, 2005	Mexico	9.76%	9.75%	cut -1 bp
Jul 1, 2005	Norway	1.75%	2.00%	hike +25 bp
Jul 2, 2005	Hong Kong	4.50%	4.75%	hike +25 bp
Jul 3, 2005	Kuwait	5.25%	5.50%	hike +25 bp
Jul 3, 2005	Saudi Arabia	3.50%	3.75%	hike +25 bp
Jul 13, 2005	Chile	3.25%	3.50%	hike +25 bp
Jul 19, 2005	Hungary	7.00%	6.75%	cut -25 bp
Jul 20, 2005	Thailand	2.50%	2.75%	hike +25 bp
Jul 28, 2005	Poland	5.00%	4.75%	cut -25 bp
Aug 4, 2005	United Kingdom	4.75%	4.50%	cut -25 bp
Aug 9, 2005	Indonesia	8.50%	8.75%	hike +25 bp
Aug 9, 2005	Romania	12.50%	8.50%	cut -400 bp
Aug 9, 2005	Saudi Arabia	3.75%	4.00%	hike +25 bp
Aug 9, 2005	United States	3.25%	3.50%	hike +25 bp
Aug 10, 2005	Hong Kong	4.75%	5.00%	hike +25 bp
Aug 12, 2005	Chile	3.50%	3.75%	hike +25 bp
Aug 23, 2005	Hungary	6.75%	6.25%	cut -50 bp
Aug 26, 2005	Mexico	9.75%	9.53%	cut -22 bp
Aug 29, 2005	Mexico	9.53%	9.51%	cut -2 bp
Sep 1, 2005	Poland	4.75%	4.50%	cut -25 bp
Sep 2, 2005	Mexico	9.51%	9.50%	cut -1 bp
Sep 6, 2005	Indonesia	8.75%	10.00%	hike +125 bp
Sep 7, 2005	Canada	2.50%	2.75%	hike +25 bp
Sep 7, 2005	Thailand	2.75%	3.25%	hike +50 bp
Sep 9, 2005	Chile	3.75%	4.00%	hike +25 bp
Sep 12, 2005	Mexico	9.50%	9.51%	hike +1 bp
Sep 13, 2005	Mexico	9.51%	9.50%	cut -1 bp
Sep 15, 2005	Brazil	19.75%	19.50%	cut -25 bp
Sep 19, 2005	Colombia	6.50%	6.00%	cut -50 bp
Sep 20, 2005	Hungary	6.25%	6.00%	cut -25 bp
Sep 20, 2005	Mexico	9.50%	9.51%	hike +1 bp
Sep 20, 2005	United States	3.50%	3.75%	hike +25 bp
Sep 21, 2005	Hong Kong	5.00%	5.25%	hike +25 bp
Sep 21, 2005	Saudi Arabia	4.00%	4.25%	hike +25 bp
Sep 22, 2005	Philippines	7.00%	7.25%	hike +25 bp
Sep 22, 2005	Romania	8.50%	7.50%	cut -100 bp
Sep 23, 2005	Mexico	9.51%	9.26%	cut -25 bp
Sep 29, 2005	Israel	3.50%	3.75%	hike +25 bp
Sep 29, 2005	Iceland	9.07%	9.75%	hike +68 bp
Oct 3, 2005	Kuwait	5.50%	5.75%	hike +25 bp
Oct 4, 2005	Indonesia	10.00%	11.00%	hike +100 bp
Oct 10, 2005	Iceland	9.75%	9.00%	cut -75 bp
Oct 11, 2005	South Korea	3.25%	3.50%	hike +25 bp
Oct 11, 2005	Türkiye	14.25%	14.00%	cut -25 bp
Oct 12, 2005	Chile	4.00%	4.25%	hike +25 bp
Oct 12, 2005	Iceland	9.00%	9.75%	hike +75 bp
Oct 12, 2005	Mexico	9.26%	9.25%	cut -1 bp
Oct 13, 2005	Mexico	9.25%	9.26%	hike +1 bp
Oct 14, 2005	Mexico	9.26%	9.25%	cut -1 bp
Oct 17, 2005	Mexico	9.25%	9.26%	hike +1 bp
Oct 18, 2005	Canada	2.75%	3.00%	hike +25 bp
Oct 19, 2005	Thailand	3.25%	3.75%	hike +50 bp
Oct 20, 2005	Brazil	19.50%	19.00%	cut -50 bp
Oct 20, 2005	Philippines	7.25%	7.50%	hike +25 bp
Oct 21, 2005	Mexico	9.26%	9.25%	cut -1 bp
Oct 24, 2005	Mexico	9.25%	9.26%	hike +1 bp
Oct 25, 2005	Saudi Arabia	4.25%	4.50%	hike +25 bp
Oct 26, 2005	India	6.00%	6.25%	hike +25 bp
Oct 26, 2005	North Macedonia	10.00%	9.80%	cut -20 bp
Oct 27, 2005	Israel	3.75%	4.00%	hike +25 bp
Oct 27, 2005	New Zealand	6.75%	7.00%	hike +25 bp
Oct 28, 2005	North Macedonia	9.80%	9.85%	hike +5 bp
Oct 28, 2005	Mexico	9.26%	9.01%	cut -25 bp
Oct 31, 2005	Czechia	1.75%	2.00%	hike +25 bp
Nov 1, 2005	Indonesia	11.00%	12.25%	hike +125 bp
Nov 1, 2005	United States	3.75%	4.00%	hike +25 bp
Nov 2, 2005	Hong Kong	5.25%	5.50%	hike +25 bp
Nov 2, 2005	Kuwait	5.75%	6.00%	hike +25 bp
Nov 2, 2005	North Macedonia	9.85%	9.82%	cut -3 bp
Nov 2, 2005	Mexico	9.01%	9.00%	cut -1 bp
Nov 3, 2005	Mexico	9.00%	9.01%	hike +1 bp
Nov 3, 2005	Norway	2.00%	2.25%	hike +25 bp
Nov 4, 2005	North Macedonia	9.82%	9.79%	cut -3 bp
Nov 9, 2005	North Macedonia	9.79%	9.15%	cut -64 bp
Nov 9, 2005	Türkiye	14.00%	13.75%	cut -25 bp
Nov 11, 2005	Chile	4.25%	4.50%	hike +25 bp
Nov 11, 2005	North Macedonia	9.15%	9.02%	cut -13 bp
Nov 16, 2005	North Macedonia	9.02%	8.88%	cut -14 bp
Nov 18, 2005	North Macedonia	8.88%	8.91%	hike +3 bp
Nov 23, 2005	North Macedonia	8.91%	8.83%	cut -8 bp
Nov 24, 2005	Brazil	19.00%	18.50%	cut -50 bp
Nov 25, 2005	North Macedonia	8.83%	8.86%	hike +3 bp
Nov 25, 2005	Mexico	9.01%	8.75%	cut -26 bp
Nov 30, 2005	North Macedonia	8.86%	8.77%	cut -9 bp
Nov 30, 2005	Mexico	8.75%	8.76%	hike +1 bp
Nov 30, 2005	Malaysia	2.70%	3.00%	hike +30 bp
Dec 1, 2005	Israel	4.00%	4.50%	hike +50 bp
Dec 1, 2005	Mexico	8.76%	8.75%	cut -1 bp
Dec 2, 2005	Denmark	2.15%	2.40%	hike +25 bp
Dec 2, 2005	Iceland	9.75%	9.97%	hike +22 bp
Dec 2, 2005	North Macedonia	8.77%	8.74%	cut -3 bp
Dec 2, 2005	Peru	3.00%	3.25%	hike +25 bp
Dec 6, 2005	Canada	3.00%	3.25%	hike +25 bp
Dec 6, 2005	Indonesia	12.25%	12.75%	hike +50 bp
Dec 6, 2005	Euro area	2.00%	2.25%	hike +25 bp
Dec 7, 2005	North Macedonia	8.74%	8.57%	cut -17 bp
Dec 8, 2005	South Korea	3.50%	3.75%	hike +25 bp
Dec 8, 2005	New Zealand	7.00%	7.25%	hike +25 bp
Dec 9, 2005	North Macedonia	8.57%	8.64%	hike +7 bp
Dec 9, 2005	Mexico	8.75%	8.26%	cut -49 bp
Dec 9, 2005	Türkiye	13.75%	13.50%	cut -25 bp
Dec 13, 2005	United States	4.00%	4.25%	hike +25 bp
Dec 14, 2005	Hong Kong	5.50%	5.75%	hike +25 bp
Dec 14, 2005	North Macedonia	8.64%	8.42%	cut -22 bp
Dec 14, 2005	Mexico	8.26%	8.25%	cut -1 bp
Dec 14, 2005	Thailand	3.75%	4.00%	hike +25 bp
Dec 15, 2005	Brazil	18.50%	18.00%	cut -50 bp
Dec 15, 2005	Switzerland	0.75%	1.00%	hike +25 bp
Dec 15, 2005	Mexico	8.25%	8.26%	hike +1 bp
Dec 16, 2005	North Macedonia	8.42%	8.50%	hike +8 bp
Dec 16, 2005	Mexico	8.26%	8.28%	hike +2 bp
Dec 17, 2005	Saudi Arabia	4.50%	4.75%	hike +25 bp
Dec 21, 2005	North Macedonia	8.50%	8.44%	cut -6 bp
Dec 21, 2005	Mexico	8.28%	8.27%	cut -1 bp
Dec 23, 2005	North Macedonia	8.44%	8.56%	hike +12 bp
Dec 26, 2005	Mexico	8.27%	8.26%	cut -1 bp
Dec 26, 2005	Russia	13.00%	12.00%	cut -100 bp
Dec 28, 2005	North Macedonia	8.56%	8.46%	cut -10 bp
Dec 30, 2005	North Macedonia	8.46%	8.37%	cut -9 bp
Dec 30, 2005	Mexico	8.26%	8.27%	hike +1 bp

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