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Policy rates worldwide in 2021: 62 hikes, 10 cuts

Areas38

Hikes62

Cuts10

Median at year end1.50%

Rate at year end

Türkiye14%

Brazil9.25%

Russia8.5%

Mexico5.5%

India4%

Chile4%

China3.8%

South Africa3.75%

Czechia3.75%

Indonesia3.5%

Colombia3%

Peru2.5%

Hungary2.4%

Philippines2%

Iceland2%

Romania1.75%

Poland1.75%

Malaysia1.75%

Morocco1.5%

Kuwait1.5%

North Macedonia1.25%

Saudi Arabia1%

Serbia1%

South Korea1%

New Zealand0.75%

Thailand0.5%

Norway0.5%

Hong Kong0.5%

United Kingdom0.25%

Canada0.25%

United States0.125%

Israel0.1%

Australia0.1%

Euro area0%

Sweden0%

Japan-0.1%

Denmark-0.6%

Switzerland-0.75%

Number of changes

Brazil7

Russia7

Hungary7

Mexico6

Türkiye5

Czechia5

Peru5

Iceland4

Chile4

Romania3

Colombia3

Poland3

Denmark2

South Korea2

Norway2

New Zealand2

Indonesia1

North Macedonia1

South Africa1

United Kingdom1

China1

All changes

Date	Country / region	From	To	Change
Jan 18, 2021	Romania	1.50%	1.25%	cut -25 bp
Feb 12, 2021	Mexico	4.25%	4.00%	cut -25 bp
Feb 18, 2021	Indonesia	3.75%	3.50%	cut -25 bp
Mar 10, 2021	North Macedonia	1.50%	1.25%	cut -25 bp
Mar 18, 2021	Brazil	2.00%	2.75%	hike +75 bp
Mar 19, 2021	Denmark	-0.60%	-0.50%	hike +10 bp
Mar 19, 2021	Türkiye	17.00%	19.00%	hike +200 bp
Mar 22, 2021	Russia	4.25%	4.50%	hike +25 bp
Apr 26, 2021	Russia	4.50%	5.00%	hike +50 bp
May 6, 2021	Brazil	2.75%	3.50%	hike +75 bp
May 19, 2021	Iceland	0.75%	1.00%	hike +25 bp
Jun 15, 2021	Russia	5.00%	5.50%	hike +50 bp
Jun 17, 2021	Brazil	3.50%	4.25%	hike +75 bp
Jun 23, 2021	Hungary	0.60%	0.90%	hike +30 bp
Jun 24, 2021	Czechia	0.25%	0.50%	hike +25 bp
Jun 25, 2021	Mexico	4.00%	4.25%	hike +25 bp
Jul 15, 2021	Chile	0.50%	0.75%	hike +25 bp
Jul 26, 2021	Russia	5.50%	6.50%	hike +100 bp
Jul 28, 2021	Hungary	0.90%	1.20%	hike +30 bp
Aug 5, 2021	Brazil	4.25%	5.25%	hike +100 bp
Aug 6, 2021	Czechia	0.50%	0.75%	hike +25 bp
Aug 13, 2021	Mexico	4.25%	4.50%	hike +25 bp
Aug 13, 2021	Peru	0.25%	0.50%	hike +25 bp
Aug 25, 2021	Hungary	1.20%	1.50%	hike +30 bp
Aug 25, 2021	Iceland	1.00%	1.25%	hike +25 bp
Aug 26, 2021	South Korea	0.50%	0.75%	hike +25 bp
Sep 1, 2021	Chile	0.75%	1.50%	hike +75 bp
Sep 10, 2021	Peru	0.50%	1.00%	hike +50 bp
Sep 13, 2021	Russia	6.50%	6.75%	hike +25 bp
Sep 22, 2021	Hungary	1.50%	1.65%	hike +15 bp
Sep 23, 2021	Brazil	5.25%	6.25%	hike +100 bp
Sep 24, 2021	Norway	0.00%	0.25%	hike +25 bp
Sep 24, 2021	Türkiye	19.00%	18.00%	cut -100 bp
Oct 1, 2021	Colombia	1.75%	2.00%	hike +25 bp
Oct 1, 2021	Czechia	0.75%	1.50%	hike +75 bp
Oct 1, 2021	Denmark	-0.50%	-0.60%	cut -10 bp
Oct 1, 2021	Mexico	4.50%	4.75%	hike +25 bp
Oct 6, 2021	Iceland	1.25%	1.50%	hike +25 bp
Oct 6, 2021	Romania	1.25%	1.50%	hike +25 bp
Oct 7, 2021	New Zealand	0.25%	0.50%	hike +25 bp
Oct 7, 2021	Poland	0.10%	0.50%	hike +40 bp
Oct 11, 2021	Peru	1.00%	1.50%	hike +50 bp
Oct 14, 2021	Chile	1.50%	2.75%	hike +125 bp
Oct 20, 2021	Hungary	1.65%	1.80%	hike +15 bp
Oct 22, 2021	Türkiye	18.00%	16.00%	cut -200 bp
Oct 25, 2021	Russia	6.75%	7.50%	hike +75 bp
Oct 28, 2021	Brazil	6.25%	7.75%	hike +150 bp
Nov 2, 2021	Colombia	2.00%	2.50%	hike +50 bp
Nov 4, 2021	Poland	0.50%	1.25%	hike +75 bp
Nov 5, 2021	Czechia	1.50%	2.75%	hike +125 bp
Nov 10, 2021	Romania	1.50%	1.75%	hike +25 bp
Nov 12, 2021	Mexico	4.75%	5.00%	hike +25 bp
Nov 12, 2021	Peru	1.50%	2.00%	hike +50 bp
Nov 17, 2021	Hungary	1.80%	2.10%	hike +30 bp
Nov 17, 2021	Iceland	1.50%	2.00%	hike +50 bp
Nov 19, 2021	Türkiye	16.00%	15.00%	cut -100 bp
Nov 19, 2021	South Africa	3.50%	3.75%	hike +25 bp
Nov 25, 2021	South Korea	0.75%	1.00%	hike +25 bp
Nov 25, 2021	New Zealand	0.50%	0.75%	hike +25 bp
Dec 9, 2021	Brazil	7.75%	9.25%	hike +150 bp
Dec 9, 2021	Poland	1.25%	1.75%	hike +50 bp
Dec 10, 2021	Peru	2.00%	2.50%	hike +50 bp
Dec 15, 2021	Chile	2.75%	4.00%	hike +125 bp
Dec 15, 2021	Hungary	2.10%	2.40%	hike +30 bp
Dec 16, 2021	United Kingdom	0.10%	0.25%	hike +15 bp
Dec 17, 2021	Mexico	5.00%	5.50%	hike +50 bp
Dec 17, 2021	Norway	0.25%	0.50%	hike +25 bp
Dec 17, 2021	Türkiye	15.00%	14.00%	cut -100 bp
Dec 18, 2021	Colombia	2.50%	3.00%	hike +50 bp
Dec 20, 2021	China	3.85%	3.80%	cut -5 bp
Dec 20, 2021	Russia	7.50%	8.50%	hike +100 bp
Dec 23, 2021	Czechia	2.75%	3.75%	hike +100 bp

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