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Policy rates worldwide in 2012: 17 hikes, 63 cuts

Areas38

Hikes17

Cuts63

Median at year end3.00%

Rate at year end

Serbia11.25%

Russia8.25%

India8%

Brazil7.25%

China6%

Indonesia5.75%

Hungary5.75%

Türkiye5.5%

Iceland5.375%

Romania5.25%

South Africa5%

Chile5%

Mexico4.5%

Poland4.25%

Peru4.25%

Colombia4.25%

North Macedonia3.73%

Philippines3.5%

Malaysia3%

Morocco3%

Australia3%

Thailand2.75%

South Korea2.75%

New Zealand2.5%

Saudi Arabia2%

Kuwait2%

Israel1.75%

Norway1.5%

Sweden1%

Canada1%

Euro area0.75%

Hong Kong0.5%

United Kingdom0.5%

United States0.125%

Switzerland0.125%

Japan0.05%

Czechia0.05%

Denmark-0.2%

Number of changes

Brazil7

Serbia7

Colombia6

North Macedonia6

Hungary5

Philippines4

Israel4

Iceland4

Australia4

Romania3

Sweden3

Poland3

Denmark3

Russia3

Czechia3

Thailand2

China2

South Korea2

Chile1

Indonesia1

Norway1

Morocco1

India1

Euro area1

South Africa1

Kuwait1

Türkiye1

All changes

Date	Country / region	From	To	Change
Jan 6, 2012	Romania	6.00%	5.75%	cut -25 bp
Jan 13, 2012	Chile	5.25%	5.00%	cut -25 bp
Jan 19, 2012	Brazil	11.00%	10.50%	cut -50 bp
Jan 19, 2012	Philippines	4.50%	4.25%	cut -25 bp
Jan 19, 2012	Serbia	9.75%	9.50%	cut -25 bp
Jan 25, 2012	Thailand	3.25%	3.00%	cut -25 bp
Jan 26, 2012	Israel	2.75%	2.50%	cut -25 bp
Jan 31, 2012	Colombia	4.75%	5.00%	hike +25 bp
Feb 3, 2012	Romania	5.75%	5.50%	cut -25 bp
Feb 9, 2012	Indonesia	6.00%	5.75%	cut -25 bp
Feb 22, 2012	Sweden	1.75%	1.50%	cut -25 bp
Feb 27, 2012	Colombia	5.00%	5.25%	hike +25 bp
Mar 1, 2012	Philippines	4.25%	4.00%	cut -25 bp
Mar 8, 2012	Brazil	10.50%	9.75%	cut -75 bp
Mar 15, 2012	Norway	1.75%	1.50%	cut -25 bp
Mar 21, 2012	Iceland	4.125%	4.375%	hike +25 bp
Mar 27, 2012	Morocco	3.25%	3.00%	cut -25 bp
Mar 30, 2012	Romania	5.50%	5.25%	cut -25 bp
Apr 11, 2012	North Macedonia	4.00%	3.94%	cut -6 bp
Apr 17, 2012	India	8.50%	8.00%	cut -50 bp
Apr 18, 2012	North Macedonia	3.94%	3.97%	hike +3 bp
Apr 19, 2012	Brazil	9.75%	9.00%	cut -75 bp
Apr 25, 2012	North Macedonia	3.97%	3.94%	cut -3 bp
May 2, 2012	Australia	4.25%	3.75%	cut -50 bp
May 2, 2012	North Macedonia	3.94%	3.93%	cut -1 bp
May 9, 2012	North Macedonia	3.93%	3.71%	cut -22 bp
May 10, 2012	Poland	4.50%	4.75%	hike +25 bp
May 16, 2012	Iceland	4.375%	4.875%	hike +50 bp
May 25, 2012	Denmark	0.30%	0.20%	cut -10 bp
May 31, 2012	Brazil	9.00%	8.50%	cut -50 bp
Jun 1, 2012	Denmark	0.20%	0.05%	cut -15 bp
Jun 6, 2012	Australia	3.75%	3.50%	cut -25 bp
Jun 7, 2012	Serbia	9.50%	10.00%	hike +50 bp
Jun 8, 2012	China	6.56%	6.31%	cut -25 bp
Jun 13, 2012	Iceland	4.875%	5.125%	hike +25 bp
Jun 13, 2012	North Macedonia	3.71%	3.73%	hike +2 bp
Jun 20, 2012	Russia	8.00%	8.25%	hike +25 bp
Jun 28, 2012	Israel	2.50%	2.25%	cut -25 bp
Jun 29, 2012	Czechia	0.75%	0.50%	cut -25 bp
Jul 3, 2012	Russia	8.25%	8.00%	cut -25 bp
Jul 6, 2012	China	6.31%	6.00%	cut -31 bp
Jul 6, 2012	Denmark	0.05%	-0.20%	cut -25 bp
Jul 11, 2012	Euro area	1.00%	0.75%	cut -25 bp
Jul 12, 2012	Brazil	8.50%	8.00%	cut -50 bp
Jul 12, 2012	South Korea	3.25%	3.00%	cut -25 bp
Jul 12, 2012	Serbia	10.00%	10.25%	hike +25 bp
Jul 20, 2012	South Africa	5.50%	5.00%	cut -50 bp
Jul 26, 2012	Philippines	4.00%	3.75%	cut -25 bp
Jul 30, 2012	Colombia	5.25%	5.00%	cut -25 bp
Aug 9, 2012	Serbia	10.25%	10.50%	hike +25 bp
Aug 27, 2012	Colombia	5.00%	4.75%	cut -25 bp
Aug 29, 2012	Hungary	7.00%	6.75%	cut -25 bp
Aug 30, 2012	Brazil	8.00%	7.50%	cut -50 bp
Sep 12, 2012	Sweden	1.50%	1.25%	cut -25 bp
Sep 14, 2012	Russia	8.00%	8.25%	hike +25 bp
Sep 26, 2012	Hungary	6.75%	6.50%	cut -25 bp
Oct 1, 2012	Czechia	0.50%	0.25%	cut -25 bp
Oct 3, 2012	Australia	3.50%	3.25%	cut -25 bp
Oct 4, 2012	Kuwait	2.50%	2.00%	cut -50 bp
Oct 9, 2012	Serbia	10.50%	10.75%	hike +25 bp
Oct 11, 2012	Brazil	7.50%	7.25%	cut -25 bp
Oct 11, 2012	South Korea	3.00%	2.75%	cut -25 bp
Oct 17, 2012	Thailand	3.00%	2.75%	cut -25 bp
Oct 25, 2012	Philippines	3.75%	3.50%	cut -25 bp
Oct 31, 2012	Hungary	6.50%	6.25%	cut -25 bp
Nov 1, 2012	Israel	2.25%	2.00%	cut -25 bp
Nov 2, 2012	Czechia	0.25%	0.05%	cut -20 bp
Nov 8, 2012	Poland	4.75%	4.50%	cut -25 bp
Nov 8, 2012	Serbia	10.75%	10.95%	hike +20 bp
Nov 14, 2012	Iceland	5.125%	5.375%	hike +25 bp
Nov 26, 2012	Colombia	4.75%	4.50%	cut -25 bp
Nov 28, 2012	Hungary	6.25%	6.00%	cut -25 bp
Dec 5, 2012	Australia	3.25%	3.00%	cut -25 bp
Dec 6, 2012	Poland	4.50%	4.25%	cut -25 bp
Dec 14, 2012	Serbia	10.95%	11.25%	hike +30 bp
Dec 19, 2012	Hungary	6.00%	5.75%	cut -25 bp
Dec 19, 2012	Sweden	1.25%	1.00%	cut -25 bp
Dec 19, 2012	Türkiye	5.75%	5.50%	cut -25 bp
Dec 24, 2012	Colombia	4.50%	4.25%	cut -25 bp
Dec 27, 2012	Israel	2.00%	1.75%	cut -25 bp

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