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Policy rates worldwide in 2011: 71 hikes, 32 cuts

Areas38

Hikes71

Cuts32

Median at year end3.625%

Rate at year end

Brazil11%

Serbia9.75%

India8.5%

Russia8%

Hungary7%

China6.56%

Romania6%

Indonesia6%

Türkiye5.75%

South Africa5.5%

Chile5.25%

Colombia4.75%

Poland4.5%

Philippines4.5%

Mexico4.5%

Peru4.25%

Australia4.25%

Iceland4.125%

North Macedonia4%

Thailand3.25%

Morocco3.25%

South Korea3.25%

Malaysia3%

Israel2.75%

New Zealand2.5%

Kuwait2.5%

Saudi Arabia2%

Sweden1.75%

Norway1.75%

Euro area1%

Canada1%

Czechia0.75%

Hong Kong0.5%

United Kingdom0.5%

Denmark0.3%

United States0.125%

Switzerland0.125%

Japan0.05%

Number of changes

Serbia9

Brazil8

Thailand7

India7

Colombia7

Denmark7

Israel6

Peru5

Chile5

Poland4

Sweden4

Euro area4

South Korea3

Hungary3

Iceland3

Indonesia3

China3

Russia3

Türkiye2

Philippines2

Norway2

Australia2

New Zealand1

Malaysia1

Switzerland1

Romania1

All changes

Date	Country / region	From	To	Change
Jan 7, 2011	Peru	3.00%	3.25%	hike +25 bp
Jan 12, 2011	Thailand	2.00%	2.25%	hike +25 bp
Jan 13, 2011	South Korea	2.50%	2.75%	hike +25 bp
Jan 17, 2011	Serbia	11.50%	12.00%	hike +50 bp
Jan 20, 2011	Brazil	10.75%	11.25%	hike +50 bp
Jan 20, 2011	Poland	3.50%	3.75%	hike +25 bp
Jan 21, 2011	Türkiye	6.50%	6.25%	cut -25 bp
Jan 25, 2011	Hungary	5.75%	6.00%	hike +25 bp
Jan 25, 2011	India	6.25%	6.50%	hike +25 bp
Jan 27, 2011	Israel	2.00%	2.25%	hike +25 bp
Feb 2, 2011	Iceland	3.875%	3.625%	cut -25 bp
Feb 4, 2011	Indonesia	6.50%	6.75%	hike +25 bp
Feb 9, 2011	China	5.81%	6.06%	hike +25 bp
Feb 11, 2011	Peru	3.25%	3.50%	hike +25 bp
Feb 16, 2011	Sweden	1.25%	1.50%	hike +25 bp
Feb 18, 2011	Chile	3.25%	3.50%	hike +25 bp
Feb 24, 2011	Israel	2.25%	2.50%	hike +25 bp
Feb 28, 2011	Colombia	3.00%	3.25%	hike +25 bp
Feb 28, 2011	Russia	7.75%	8.00%	hike +25 bp
Mar 3, 2011	Brazil	11.25%	11.75%	hike +50 bp
Mar 9, 2011	Thailand	2.25%	2.50%	hike +25 bp
Mar 10, 2011	South Korea	2.75%	3.00%	hike +25 bp
Mar 10, 2011	New Zealand	3.00%	2.50%	cut -50 bp
Mar 10, 2011	Serbia	12.00%	12.25%	hike +25 bp
Mar 11, 2011	Peru	3.50%	3.75%	hike +25 bp
Mar 17, 2011	India	6.50%	6.75%	hike +25 bp
Mar 18, 2011	Chile	3.50%	4.00%	hike +50 bp
Mar 22, 2011	Colombia	3.25%	3.50%	hike +25 bp
Mar 24, 2011	Philippines	4.00%	4.25%	hike +25 bp
Mar 31, 2011	Israel	2.50%	3.00%	hike +50 bp
Apr 6, 2011	China	6.06%	6.31%	hike +25 bp
Apr 6, 2011	Poland	3.75%	4.00%	hike +25 bp
Apr 7, 2011	Peru	3.75%	4.00%	hike +25 bp
Apr 7, 2011	Serbia	12.25%	12.50%	hike +25 bp
Apr 8, 2011	Denmark	0.70%	0.95%	hike +25 bp
Apr 13, 2011	Chile	4.00%	4.50%	hike +50 bp
Apr 13, 2011	Euro area	1.00%	1.25%	hike +25 bp
Apr 20, 2011	Thailand	2.50%	2.75%	hike +25 bp
Apr 25, 2011	Brazil	11.75%	12.00%	hike +25 bp
Apr 27, 2011	Sweden	1.50%	1.75%	hike +25 bp
May 2, 2011	Colombia	3.50%	3.75%	hike +25 bp
May 3, 2011	India	6.75%	7.25%	hike +50 bp
May 3, 2011	Russia	8.00%	8.25%	hike +25 bp
May 5, 2011	Malaysia	2.75%	3.00%	hike +25 bp
May 5, 2011	Philippines	4.25%	4.50%	hike +25 bp
May 12, 2011	Peru	4.00%	4.25%	hike +25 bp
May 12, 2011	Poland	4.00%	4.25%	hike +25 bp
May 13, 2011	Chile	4.50%	5.00%	hike +50 bp
May 13, 2011	Norway	2.00%	2.25%	hike +25 bp
May 26, 2011	Israel	3.00%	3.25%	hike +25 bp
May 31, 2011	Colombia	3.75%	4.00%	hike +25 bp
Jun 1, 2011	Thailand	2.75%	3.00%	hike +25 bp
Jun 9, 2011	Brazil	12.00%	12.25%	hike +25 bp
Jun 9, 2011	Poland	4.25%	4.50%	hike +25 bp
Jun 9, 2011	Serbia	12.50%	12.00%	cut -50 bp
Jun 10, 2011	South Korea	3.00%	3.25%	hike +25 bp
Jun 15, 2011	Chile	5.00%	5.25%	hike +25 bp
Jun 16, 2011	India	7.25%	7.50%	hike +25 bp
Jun 20, 2011	Colombia	4.00%	4.25%	hike +25 bp
Jul 6, 2011	Sweden	1.75%	2.00%	hike +25 bp
Jul 7, 2011	China	6.31%	6.56%	hike +25 bp
Jul 7, 2011	Serbia	12.00%	11.75%	cut -25 bp
Jul 8, 2011	Denmark	0.95%	1.20%	hike +25 bp
Jul 13, 2011	Thailand	3.00%	3.25%	hike +25 bp
Jul 13, 2011	Euro area	1.25%	1.50%	hike +25 bp
Jul 21, 2011	Brazil	12.25%	12.50%	hike +25 bp
Jul 26, 2011	India	7.50%	8.00%	hike +50 bp
Aug 1, 2011	Colombia	4.25%	4.50%	hike +25 bp
Aug 3, 2011	Switzerland	0.375%	0.125%	cut -25 bp
Aug 5, 2011	Türkiye	6.25%	5.75%	cut -50 bp
Aug 17, 2011	Iceland	3.625%	3.875%	hike +25 bp
Aug 24, 2011	Thailand	3.25%	3.50%	hike +25 bp
Aug 26, 2011	Denmark	1.20%	1.10%	cut -10 bp
Sep 1, 2011	Brazil	12.50%	12.00%	cut -50 bp
Sep 8, 2011	Serbia	11.75%	11.25%	cut -50 bp
Sep 16, 2011	Denmark	1.10%	1.00%	cut -10 bp
Sep 16, 2011	India	8.00%	8.25%	hike +25 bp
Oct 2, 2011	Israel	3.25%	3.00%	cut -25 bp
Oct 6, 2011	Serbia	11.25%	10.75%	cut -50 bp
Oct 11, 2011	Indonesia	6.75%	6.50%	cut -25 bp
Oct 20, 2011	Brazil	12.00%	11.50%	cut -50 bp
Oct 25, 2011	India	8.25%	8.50%	hike +25 bp
Nov 2, 2011	Australia	4.75%	4.50%	cut -25 bp
Nov 2, 2011	Iceland	3.875%	4.125%	hike +25 bp
Nov 3, 2011	Romania	6.25%	6.00%	cut -25 bp
Nov 4, 2011	Denmark	1.00%	0.65%	cut -35 bp
Nov 9, 2011	Euro area	1.50%	1.25%	cut -25 bp
Nov 10, 2011	Indonesia	6.50%	6.00%	cut -50 bp
Nov 10, 2011	Serbia	10.75%	10.00%	cut -75 bp
Nov 28, 2011	Colombia	4.50%	4.75%	hike +25 bp
Nov 30, 2011	Hungary	6.00%	6.50%	hike +50 bp
Nov 30, 2011	Thailand	3.50%	3.25%	cut -25 bp
Dec 1, 2011	Brazil	11.50%	11.00%	cut -50 bp
Dec 1, 2011	Israel	3.00%	2.75%	cut -25 bp
Dec 7, 2011	Australia	4.50%	4.25%	cut -25 bp
Dec 8, 2011	Serbia	10.00%	9.75%	cut -25 bp
Dec 9, 2011	Denmark	0.65%	0.40%	cut -25 bp
Dec 14, 2011	Euro area	1.25%	1.00%	cut -25 bp
Dec 15, 2011	Norway	2.25%	1.75%	cut -50 bp
Dec 16, 2011	Denmark	0.40%	0.30%	cut -10 bp
Dec 21, 2011	Hungary	6.50%	7.00%	hike +50 bp
Dec 21, 2011	Sweden	2.00%	1.75%	cut -25 bp
Dec 26, 2011	Russia	8.25%	8.00%	cut -25 bp

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