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Policy rates worldwide in 2009: 12 hikes, 161 cuts

Areas38

Hikes12

Cuts161

Median at year end2.75%

Rate at year end

Serbia9.5%

Iceland9.125%

Russia8.75%

Brazil8.75%

North Macedonia8.5%

Romania8%

South Africa7%

Türkiye6.5%

Indonesia6.5%

Hungary6.25%

China5.31%

India4.75%

Mexico4.5%

Philippines4%

Australia3.75%

Poland3.5%

Colombia3.5%

Morocco3.25%

Kuwait3%

New Zealand2.5%

Saudi Arabia2%

Malaysia2%

South Korea2%

Norway1.75%

Thailand1.25%

Peru1.25%

Israel1.25%

Euro area1%

Czechia1%

Denmark0.95%

Hong Kong0.5%

United Kingdom0.5%

Chile0.5%

Switzerland0.375%

Sweden0.25%

Canada0.25%

United States0.125%

Japan0.1%

Number of changes

Türkiye11

Denmark10

Russia10

Australia9

Indonesia8

Serbia8

Colombia8

Israel7

Chile7

Mexico7

Hungary7

Peru7

Iceland7

Norway6

Brazil5

Philippines5

Romania5

South Africa5

Euro area4

Poland4

Czechia4

India3

United Kingdom3

Thailand3

Canada3

New Zealand3

Sweden3

South Korea2

Malaysia2

North Macedonia2

Kuwait2

Saudi Arabia1

Switzerland1

Morocco1

All changes

Date	Country / region	From	To	Change
Jan 1, 2009	Israel	2.50%	1.75%	cut -75 bp
Jan 5, 2009	India	6.50%	5.50%	cut -100 bp
Jan 7, 2009	Indonesia	9.25%	8.75%	cut -50 bp
Jan 8, 2009	United Kingdom	2.00%	1.50%	cut -50 bp
Jan 9, 2009	Chile	8.25%	7.25%	cut -100 bp
Jan 9, 2009	South Korea	3.00%	2.50%	cut -50 bp
Jan 14, 2009	Thailand	2.75%	2.00%	cut -75 bp
Jan 16, 2009	Denmark	3.75%	3.00%	cut -75 bp
Jan 16, 2009	Mexico	8.25%	7.75%	cut -50 bp
Jan 16, 2009	Türkiye	15.00%	13.00%	cut -200 bp
Jan 19, 2009	Saudi Arabia	2.50%	2.00%	cut -50 bp
Jan 20, 2009	Canada	1.50%	1.00%	cut -50 bp
Jan 20, 2009	Hungary	10.00%	9.50%	cut -50 bp
Jan 21, 2009	Malaysia	3.25%	2.50%	cut -75 bp
Jan 21, 2009	Euro area	2.50%	2.00%	cut -50 bp
Jan 22, 2009	Brazil	13.75%	12.75%	cut -100 bp
Jan 22, 2009	Serbia	17.75%	16.50%	cut -125 bp
Jan 28, 2009	Poland	5.00%	4.25%	cut -75 bp
Jan 29, 2009	Israel	1.75%	1.00%	cut -75 bp
Jan 29, 2009	New Zealand	5.00%	3.50%	cut -150 bp
Jan 29, 2009	Philippines	5.50%	5.00%	cut -50 bp
Feb 2, 2009	Colombia	9.50%	9.00%	cut -50 bp
Feb 4, 2009	Australia	4.25%	3.25%	cut -100 bp
Feb 4, 2009	Indonesia	8.75%	8.25%	cut -50 bp
Feb 5, 2009	United Kingdom	1.50%	1.00%	cut -50 bp
Feb 5, 2009	Norway	3.00%	2.50%	cut -50 bp
Feb 5, 2009	Romania	10.25%	10.00%	cut -25 bp
Feb 6, 2009	Czechia	2.25%	1.75%	cut -50 bp
Feb 6, 2009	Peru	6.50%	6.25%	cut -25 bp
Feb 6, 2009	South Africa	11.50%	10.50%	cut -100 bp
Feb 12, 2009	South Korea	2.50%	2.00%	cut -50 bp
Feb 13, 2009	Chile	7.25%	4.75%	cut -250 bp
Feb 18, 2009	Sweden	2.00%	1.00%	cut -100 bp
Feb 20, 2009	Mexico	7.75%	7.50%	cut -25 bp
Feb 20, 2009	Türkiye	13.00%	11.50%	cut -150 bp
Feb 24, 2009	Malaysia	2.50%	2.00%	cut -50 bp
Feb 25, 2009	Thailand	2.00%	1.50%	cut -50 bp
Feb 26, 2009	Israel	1.00%	0.75%	cut -25 bp
Feb 26, 2009	Poland	4.25%	4.00%	cut -25 bp
Mar 2, 2009	Colombia	9.00%	8.00%	cut -100 bp
Mar 3, 2009	Canada	1.00%	0.50%	cut -50 bp
Mar 4, 2009	Indonesia	8.25%	7.75%	cut -50 bp
Mar 5, 2009	United Kingdom	1.00%	0.50%	cut -50 bp
Mar 5, 2009	India	5.50%	5.00%	cut -50 bp
Mar 5, 2009	Philippines	5.00%	4.75%	cut -25 bp
Mar 6, 2009	Denmark	3.00%	2.25%	cut -75 bp
Mar 6, 2009	Peru	6.25%	6.00%	cut -25 bp
Mar 11, 2009	Euro area	2.00%	1.50%	cut -50 bp
Mar 12, 2009	Brazil	12.75%	11.25%	cut -150 bp
Mar 12, 2009	Switzerland	0.50%	0.375%	cut -12 bp
Mar 12, 2009	New Zealand	3.50%	3.00%	cut -50 bp
Mar 13, 2009	Chile	4.75%	2.25%	cut -250 bp
Mar 19, 2009	Iceland	18.00%	17.00%	cut -100 bp
Mar 20, 2009	Mexico	7.50%	6.75%	cut -75 bp
Mar 20, 2009	Türkiye	11.50%	10.50%	cut -100 bp
Mar 24, 2009	Colombia	8.00%	7.00%	cut -100 bp
Mar 24, 2009	Morocco	3.50%	3.25%	cut -25 bp
Mar 25, 2009	South Africa	10.50%	9.50%	cut -100 bp
Mar 26, 2009	Israel	0.75%	0.50%	cut -25 bp
Mar 26, 2009	Norway	2.50%	2.00%	cut -50 bp
Mar 26, 2009	Poland	4.00%	3.75%	cut -25 bp
Apr 1, 2009	Iceland	17.00%	14.00%	cut -300 bp
Apr 1, 2009	North Macedonia	7.00%	9.00%	hike +200 bp
Apr 3, 2009	Denmark	2.25%	2.00%	cut -25 bp
Apr 3, 2009	Indonesia	7.75%	7.50%	cut -25 bp
Apr 6, 2009	Serbia	16.50%	15.00%	cut -150 bp
Apr 8, 2009	Australia	3.25%	3.00%	cut -25 bp
Apr 8, 2009	Iceland	14.00%	12.50%	cut -150 bp
Apr 8, 2009	Thailand	1.50%	1.25%	cut -25 bp
Apr 8, 2009	Euro area	1.50%	1.25%	cut -25 bp
Apr 9, 2009	Peru	6.00%	5.00%	cut -100 bp
Apr 13, 2009	Chile	2.25%	1.75%	cut -50 bp
Apr 13, 2009	Kuwait	3.75%	3.50%	cut -25 bp
Apr 15, 2009	Australia	3.00%	3.001%	cut 0 bp
Apr 16, 2009	Australia	3.001%	3.00%	cut 0 bp
Apr 16, 2009	Philippines	4.75%	4.50%	cut -25 bp
Apr 17, 2009	Mexico	6.75%	6.00%	cut -75 bp
Apr 17, 2009	Türkiye	10.50%	9.75%	cut -75 bp
Apr 21, 2009	Canada	0.50%	0.25%	cut -25 bp
Apr 21, 2009	India	5.00%	4.75%	cut -25 bp
Apr 22, 2009	Australia	3.00%	3.001%	cut 0 bp
Apr 22, 2009	Serbia	15.00%	14.00%	cut -100 bp
Apr 22, 2009	Sweden	1.00%	0.50%	cut -50 bp
Apr 23, 2009	Australia	3.001%	3.00%	cut 0 bp
Apr 24, 2009	Russia	13.00%	12.50%	cut -50 bp
Apr 30, 2009	Brazil	11.25%	10.25%	cut -100 bp
Apr 30, 2009	New Zealand	3.00%	2.50%	cut -50 bp
May 4, 2009	Colombia	7.00%	6.00%	cut -100 bp
May 4, 2009	South Africa	9.50%	8.50%	cut -100 bp
May 5, 2009	Indonesia	7.50%	7.25%	cut -25 bp
May 7, 2009	Iceland	12.50%	9.50%	cut -300 bp
May 7, 2009	Norway	2.00%	1.50%	cut -50 bp
May 7, 2009	Romania	10.00%	9.50%	cut -50 bp
May 8, 2009	Chile	1.75%	1.25%	cut -50 bp
May 8, 2009	Peru	5.00%	4.00%	cut -100 bp
May 11, 2009	Czechia	1.75%	1.50%	cut -25 bp
May 11, 2009	Denmark	2.00%	1.65%	cut -35 bp
May 13, 2009	Euro area	1.25%	1.00%	cut -25 bp
May 14, 2009	Kuwait	3.50%	3.00%	cut -50 bp
May 14, 2009	Russia	12.50%	12.00%	cut -50 bp
May 15, 2009	Mexico	6.00%	5.25%	cut -75 bp
May 15, 2009	Türkiye	9.75%	9.25%	cut -50 bp
May 28, 2009	Philippines	4.50%	4.25%	cut -25 bp
May 29, 2009	South Africa	8.50%	7.50%	cut -100 bp
Jun 1, 2009	Colombia	6.00%	5.00%	cut -100 bp
Jun 3, 2009	Indonesia	7.25%	7.00%	cut -25 bp
Jun 5, 2009	Peru	4.00%	3.00%	cut -100 bp
Jun 5, 2009	Russia	12.00%	11.50%	cut -50 bp
Jun 8, 2009	Denmark	1.65%	1.45%	cut -20 bp
Jun 8, 2009	Serbia	14.00%	13.00%	cut -100 bp
Jun 12, 2009	Brazil	10.25%	9.25%	cut -100 bp
Jun 17, 2009	Chile	1.25%	0.75%	cut -50 bp
Jun 17, 2009	Türkiye	9.25%	8.75%	cut -50 bp
Jun 18, 2009	Norway	1.50%	1.25%	cut -25 bp
Jun 19, 2009	Mexico	5.25%	4.75%	cut -50 bp
Jun 23, 2009	Colombia	5.00%	4.50%	cut -50 bp
Jun 25, 2009	Poland	3.75%	3.50%	cut -25 bp
Jul 1, 2009	Romania	9.50%	9.00%	cut -50 bp
Jul 3, 2009	Indonesia	7.00%	6.75%	cut -25 bp
Jul 8, 2009	Sweden	0.50%	0.25%	cut -25 bp
Jul 9, 2009	Philippines	4.25%	4.00%	cut -25 bp
Jul 10, 2009	Chile	0.75%	0.50%	cut -25 bp
Jul 10, 2009	Peru	3.00%	2.00%	cut -100 bp
Jul 10, 2009	Serbia	13.00%	12.00%	cut -100 bp
Jul 13, 2009	Russia	11.50%	11.00%	cut -50 bp
Jul 17, 2009	Mexico	4.75%	4.50%	cut -25 bp
Jul 17, 2009	Türkiye	8.75%	8.25%	cut -50 bp
Jul 23, 2009	Brazil	9.25%	8.75%	cut -50 bp
Jul 28, 2009	Hungary	9.50%	8.50%	cut -100 bp
Aug 5, 2009	Indonesia	6.75%	6.50%	cut -25 bp
Aug 5, 2009	Romania	9.00%	8.50%	cut -50 bp
Aug 7, 2009	Czechia	1.50%	1.25%	cut -25 bp
Aug 7, 2009	Peru	2.00%	1.25%	cut -75 bp
Aug 10, 2009	Russia	11.00%	10.75%	cut -25 bp
Aug 14, 2009	Denmark	1.45%	1.35%	cut -10 bp
Aug 14, 2009	South Africa	7.50%	7.00%	cut -50 bp
Aug 19, 2009	Türkiye	8.25%	7.75%	cut -50 bp
Aug 25, 2009	Hungary	8.50%	8.00%	cut -50 bp
Aug 27, 2009	Israel	0.50%	0.75%	hike +25 bp
Aug 28, 2009	Denmark	1.35%	1.25%	cut -10 bp
Sep 15, 2009	Russia	10.75%	10.50%	cut -25 bp
Sep 18, 2009	Türkiye	7.75%	7.25%	cut -50 bp
Sep 25, 2009	Denmark	1.25%	1.15%	cut -10 bp
Sep 28, 2009	Colombia	4.50%	4.00%	cut -50 bp
Sep 29, 2009	Denmark	1.15%	1.00%	cut -15 bp
Sep 29, 2009	Hungary	8.00%	7.50%	cut -50 bp
Sep 30, 2009	Romania	8.50%	8.00%	cut -50 bp
Sep 30, 2009	Russia	10.50%	10.00%	cut -50 bp
Oct 1, 2009	Iceland	9.50%	9.75%	hike +25 bp
Oct 7, 2009	Australia	3.00%	3.25%	hike +25 bp
Oct 8, 2009	Serbia	12.00%	11.00%	cut -100 bp
Oct 16, 2009	Türkiye	7.25%	6.75%	cut -50 bp
Oct 20, 2009	Hungary	7.50%	7.00%	cut -50 bp
Oct 29, 2009	Norway	1.25%	1.50%	hike +25 bp
Oct 30, 2009	Russia	10.00%	9.50%	cut -50 bp
Nov 4, 2009	Australia	3.25%	3.50%	hike +25 bp
Nov 5, 2009	Iceland	9.75%	9.625%	cut -12 bp
Nov 5, 2009	Serbia	11.00%	10.00%	cut -100 bp
Nov 20, 2009	Türkiye	6.75%	6.50%	cut -25 bp
Nov 24, 2009	Colombia	4.00%	3.50%	cut -50 bp
Nov 24, 2009	Hungary	7.00%	6.50%	cut -50 bp
Nov 25, 2009	Russia	9.50%	9.00%	cut -50 bp
Nov 26, 2009	Israel	0.75%	1.00%	hike +25 bp
Dec 2, 2009	Australia	3.50%	3.75%	hike +25 bp
Dec 2, 2009	North Macedonia	9.00%	8.50%	cut -50 bp
Dec 10, 2009	Iceland	9.625%	9.125%	cut -50 bp
Dec 11, 2009	Denmark	1.00%	0.95%	cut -5 bp
Dec 17, 2009	Czechia	1.25%	1.00%	cut -25 bp
Dec 17, 2009	Norway	1.50%	1.75%	hike +25 bp
Dec 22, 2009	Hungary	6.50%	6.25%	cut -25 bp
Dec 28, 2009	Russia	9.00%	8.75%	cut -25 bp
Dec 29, 2009	Serbia	10.00%	9.50%	cut -50 bp
Dec 31, 2009	Israel	1.00%	1.25%	hike +25 bp

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