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Policy rates worldwide in 2015: 22 hikes, 58 cuts

Areas37

Hikes22

Cuts58

Median at year end2.25%

Rate at year end

Brazil14.25%

Russia11%

Türkiye7.5%

Indonesia7.5%

India6.75%

South Africa6.25%

Iceland5.75%

Colombia5.75%

Serbia4.5%

China4.35%

Philippines4%

Peru3.75%

Chile3.5%

Malaysia3.25%

Mexico3.25%

North Macedonia3.25%

New Zealand2.5%

Morocco2.5%

Kuwait2.25%

Saudi Arabia2%

Australia2%

Romania1.75%

Thailand1.5%

Poland1.5%

South Korea1.5%

Hungary1.35%

Norway0.75%

Hong Kong0.75%

United Kingdom0.5%

Canada0.5%

United States0.375%

Israel0.1%

Euro area0.05%

Czechia0.05%

Sweden-0.35%

Denmark-0.75%

Switzerland-0.75%

Number of changes

Serbia7

Brazil5

Russia5

China5

Hungary5

Romania4

India4

Denmark4

New Zealand4

Colombia4

Peru3

Sweden3

Iceland3

Canada2

Türkiye2

Australia2

Thailand2

South Korea2

Norway2

South Africa2

Chile2

Switzerland1

Indonesia1

Israel1

Poland1

Kuwait1

Mexico1

United States1

Hong Kong1

All changes

Date	Country / region	From	To	Change
Jan 8, 2015	Romania	2.75%	2.50%	cut -25 bp
Jan 15, 2015	Switzerland	-0.25%	-0.75%	cut -50 bp
Jan 15, 2015	India	8.00%	7.75%	cut -25 bp
Jan 16, 2015	Peru	3.50%	3.25%	cut -25 bp
Jan 20, 2015	Denmark	-0.05%	-0.20%	cut -15 bp
Jan 21, 2015	Canada	1.00%	0.75%	cut -25 bp
Jan 21, 2015	Türkiye	8.25%	7.75%	cut -50 bp
Jan 22, 2015	Brazil	11.75%	12.25%	hike +50 bp
Jan 23, 2015	Denmark	-0.20%	-0.35%	cut -15 bp
Jan 30, 2015	Denmark	-0.35%	-0.50%	cut -15 bp
Feb 2, 2015	Russia	17.00%	15.00%	cut -200 bp
Feb 4, 2015	Australia	2.50%	2.25%	cut -25 bp
Feb 5, 2015	Romania	2.50%	2.25%	cut -25 bp
Feb 6, 2015	Denmark	-0.50%	-0.75%	cut -25 bp
Feb 17, 2015	Indonesia	7.75%	7.50%	cut -25 bp
Feb 18, 2015	Sweden	0.00%	-0.10%	cut -10 bp
Feb 25, 2015	Türkiye	7.75%	7.50%	cut -25 bp
Feb 26, 2015	Israel	0.25%	0.10%	cut -15 bp
Mar 1, 2015	China	5.60%	5.35%	cut -25 bp
Mar 4, 2015	India	7.75%	7.50%	cut -25 bp
Mar 5, 2015	Brazil	12.25%	12.75%	hike +50 bp
Mar 5, 2015	Poland	2.00%	1.50%	cut -50 bp
Mar 11, 2015	Thailand	2.00%	1.75%	cut -25 bp
Mar 12, 2015	South Korea	2.00%	1.75%	cut -25 bp
Mar 12, 2015	Serbia	8.00%	7.50%	cut -50 bp
Mar 16, 2015	Russia	15.00%	14.00%	cut -100 bp
Mar 25, 2015	Hungary	2.10%	1.95%	cut -15 bp
Mar 25, 2015	Sweden	-0.10%	-0.25%	cut -15 bp
Apr 1, 2015	Romania	2.25%	2.00%	cut -25 bp
Apr 9, 2015	Serbia	7.50%	7.00%	cut -50 bp
Apr 22, 2015	Hungary	1.95%	1.80%	cut -15 bp
Apr 29, 2015	Thailand	1.75%	1.50%	cut -25 bp
Apr 30, 2015	Brazil	12.75%	13.25%	hike +50 bp
May 5, 2015	Russia	14.00%	12.50%	cut -150 bp
May 6, 2015	Australia	2.25%	2.00%	cut -25 bp
May 7, 2015	Romania	2.00%	1.75%	cut -25 bp
May 11, 2015	China	5.35%	5.10%	cut -25 bp
May 11, 2015	Serbia	7.00%	6.50%	cut -50 bp
May 27, 2015	Hungary	1.80%	1.65%	cut -15 bp
Jun 2, 2015	India	7.50%	7.25%	cut -25 bp
Jun 4, 2015	Brazil	13.25%	13.75%	hike +50 bp
Jun 10, 2015	Iceland	4.50%	5.00%	hike +50 bp
Jun 11, 2015	South Korea	1.75%	1.50%	cut -25 bp
Jun 11, 2015	New Zealand	3.50%	3.25%	cut -25 bp
Jun 11, 2015	Serbia	6.50%	6.00%	cut -50 bp
Jun 16, 2015	Russia	12.50%	11.50%	cut -100 bp
Jun 19, 2015	Norway	1.25%	1.00%	cut -25 bp
Jun 24, 2015	Hungary	1.65%	1.50%	cut -15 bp
Jun 28, 2015	China	5.10%	4.85%	cut -25 bp
Jul 8, 2015	Sweden	-0.25%	-0.35%	cut -10 bp
Jul 15, 2015	Canada	0.75%	0.50%	cut -25 bp
Jul 22, 2015	Hungary	1.50%	1.35%	cut -15 bp
Jul 23, 2015	New Zealand	3.25%	3.00%	cut -25 bp
Jul 24, 2015	South Africa	5.75%	6.00%	hike +25 bp
Jul 30, 2015	Brazil	13.75%	14.25%	hike +50 bp
Aug 3, 2015	Russia	11.50%	11.00%	cut -50 bp
Aug 13, 2015	Serbia	6.00%	5.50%	cut -50 bp
Aug 19, 2015	Iceland	5.00%	5.50%	hike +50 bp
Aug 26, 2015	China	4.85%	4.60%	cut -25 bp
Sep 10, 2015	New Zealand	3.00%	2.75%	cut -25 bp
Sep 10, 2015	Serbia	5.50%	5.00%	cut -50 bp
Sep 11, 2015	Peru	3.25%	3.50%	hike +25 bp
Sep 25, 2015	Norway	1.00%	0.75%	cut -25 bp
Sep 28, 2015	Colombia	4.50%	4.75%	hike +25 bp
Sep 29, 2015	India	7.25%	6.75%	cut -50 bp
Oct 14, 2015	Serbia	5.00%	4.50%	cut -50 bp
Oct 16, 2015	Chile	3.00%	3.25%	hike +25 bp
Oct 24, 2015	China	4.60%	4.35%	cut -25 bp
Nov 3, 2015	Colombia	4.75%	5.25%	hike +50 bp
Nov 4, 2015	Iceland	5.50%	5.75%	hike +25 bp
Nov 20, 2015	South Africa	6.00%	6.25%	hike +25 bp
Nov 30, 2015	Colombia	5.25%	5.50%	hike +25 bp
Dec 10, 2015	New Zealand	2.75%	2.50%	cut -25 bp
Dec 11, 2015	Peru	3.50%	3.75%	hike +25 bp
Dec 17, 2015	Kuwait	2.00%	2.25%	hike +25 bp
Dec 17, 2015	Mexico	3.00%	3.25%	hike +25 bp
Dec 17, 2015	United States	0.125%	0.375%	hike +25 bp
Dec 18, 2015	Chile	3.25%	3.50%	hike +25 bp
Dec 18, 2015	Hong Kong	0.50%	0.75%	hike +25 bp
Dec 21, 2015	Colombia	5.50%	5.75%	hike +25 bp

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