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Policy rates worldwide in 2025: 7 hikes, 111 cuts

Areas38
Hikes7
Cuts111
Median at year end4.00%

Rate at year end

Number of changes

All changes

DateCountry / regionFromToChange
Jan 8, 2025Sweden2.75%2.50%cut -25 bp
Jan 10, 2025Peru5.00%4.75%cut -25 bp
Jan 15, 2025Indonesia6.00%5.75%cut -25 bp
Jan 24, 2025Türkiye47.50%45.00%cut -250 bp
Jan 27, 2025Japan0.25%0.50%hike +25 bp
Jan 30, 2025Brazil12.25%13.25%hike +100 bp
Jan 30, 2025Canada3.25%3.00%cut -25 bp
Jan 31, 2025Denmark2.60%2.35%cut -25 bp
Jan 31, 2025South Africa7.75%7.50%cut -25 bp
Feb 5, 2025Iceland8.50%8.00%cut -50 bp
Feb 5, 2025North Macedonia5.55%5.35%cut -20 bp
Feb 5, 2025Sweden2.50%2.25%cut -25 bp
Feb 5, 2025Euro area3.00%2.75%cut -25 bp
Feb 6, 2025United Kingdom4.75%4.50%cut -25 bp
Feb 7, 2025Czechia4.00%3.75%cut -25 bp
Feb 7, 2025India6.50%6.25%cut -25 bp
Feb 7, 2025Mexico10.00%9.50%cut -50 bp
Feb 19, 2025Australia4.35%4.10%cut -25 bp
Feb 20, 2025New Zealand4.25%3.75%cut -50 bp
Feb 25, 2025South Korea3.00%2.75%cut -25 bp
Feb 26, 2025Thailand2.25%2.00%cut -25 bp
Mar 7, 2025Denmark2.35%2.10%cut -25 bp
Mar 7, 2025Türkiye45.00%42.50%cut -250 bp
Mar 12, 2025Euro area2.75%2.50%cut -25 bp
Mar 13, 2025Canada3.00%2.75%cut -25 bp
Mar 19, 2025Iceland8.00%7.75%cut -25 bp
Mar 20, 2025Brazil13.25%14.25%hike +100 bp
Mar 20, 2025Morocco2.50%2.25%cut -25 bp
Mar 21, 2025Switzerland0.50%0.25%cut -25 bp
Mar 28, 2025Mexico9.50%9.00%cut -50 bp
Apr 9, 2025India6.25%6.00%cut -25 bp
Apr 10, 2025New Zealand3.75%3.50%cut -25 bp
Apr 11, 2025Philippines5.75%5.50%cut -25 bp
Apr 18, 2025Türkiye42.50%46.00%hike +350 bp
Apr 22, 2025Denmark2.10%1.85%cut -25 bp
Apr 23, 2025Euro area2.50%2.25%cut -25 bp
Apr 30, 2025Thailand2.00%1.75%cut -25 bp
May 2, 2025Colombia9.50%9.25%cut -25 bp
May 8, 2025Brazil14.25%14.75%hike +50 bp
May 8, 2025United Kingdom4.50%4.25%cut -25 bp
May 8, 2025Poland5.75%5.25%cut -50 bp
May 9, 2025Czechia3.75%3.50%cut -25 bp
May 9, 2025Peru4.75%4.50%cut -25 bp
May 16, 2025Mexico9.00%8.50%cut -50 bp
May 20, 2025China3.10%3.00%cut -10 bp
May 21, 2025Australia4.10%3.85%cut -25 bp
May 21, 2025Indonesia5.75%5.50%cut -25 bp
May 21, 2025Iceland7.75%7.50%cut -25 bp
May 29, 2025South Korea2.75%2.50%cut -25 bp
May 29, 2025New Zealand3.50%3.25%cut -25 bp
May 30, 2025South Africa7.50%7.25%cut -25 bp
Jun 6, 2025Denmark1.85%1.60%cut -25 bp
Jun 6, 2025India6.00%5.50%cut -50 bp
Jun 9, 2025Russia21.00%20.00%cut -100 bp
Jun 11, 2025Euro area2.25%2.00%cut -25 bp
Jun 19, 2025Brazil14.75%15.00%hike +25 bp
Jun 20, 2025Switzerland0.25%0.00%cut -25 bp
Jun 20, 2025Norway4.50%4.25%cut -25 bp
Jun 20, 2025Philippines5.50%5.25%cut -25 bp
Jun 25, 2025Sweden2.25%2.00%cut -25 bp
Jun 27, 2025Mexico8.50%8.00%cut -50 bp
Jul 3, 2025Poland5.25%5.00%cut -25 bp
Jul 9, 2025Malaysia3.00%2.75%cut -25 bp
Jul 16, 2025Indonesia5.50%5.25%cut -25 bp
Jul 25, 2025Türkiye46.00%43.00%cut -300 bp
Jul 28, 2025Russia20.00%18.00%cut -200 bp
Jul 30, 2025Chile5.00%4.75%cut -25 bp
Aug 1, 2025South Africa7.25%7.00%cut -25 bp
Aug 7, 2025United Kingdom4.25%4.00%cut -25 bp
Aug 8, 2025Mexico8.00%7.75%cut -25 bp
Aug 13, 2025Australia3.85%3.60%cut -25 bp
Aug 13, 2025Thailand1.75%1.50%cut -25 bp
Aug 20, 2025Indonesia5.25%5.00%cut -25 bp
Aug 21, 2025New Zealand3.25%3.00%cut -25 bp
Aug 29, 2025Philippines5.25%5.00%cut -25 bp
Sep 4, 2025Poland5.00%4.75%cut -25 bp
Sep 12, 2025Peru4.50%4.25%cut -25 bp
Sep 12, 2025Türkiye43.00%40.50%cut -250 bp
Sep 15, 2025Russia18.00%17.00%cut -100 bp
Sep 17, 2025Indonesia5.00%4.75%cut -25 bp
Sep 17, 2025Saudi Arabia5.00%4.75%cut -25 bp
Sep 18, 2025Canada2.75%2.50%cut -25 bp
Sep 18, 2025Hong Kong4.75%4.50%cut -25 bp
Sep 18, 2025Kuwait4.00%3.75%cut -25 bp
Sep 18, 2025United States4.375%4.125%cut -25 bp
Sep 19, 2025Norway4.25%4.00%cut -25 bp
Sep 26, 2025Mexico7.75%7.50%cut -25 bp
Oct 1, 2025Sweden2.00%1.75%cut -25 bp
Oct 9, 2025New Zealand3.00%2.50%cut -50 bp
Oct 9, 2025Poland4.75%4.50%cut -25 bp
Oct 10, 2025Philippines5.00%4.75%cut -25 bp
Oct 24, 2025Türkiye40.50%39.50%cut -100 bp
Oct 27, 2025Russia17.00%16.50%cut -50 bp
Oct 29, 2025Saudi Arabia4.75%4.50%cut -25 bp
Oct 30, 2025Canada2.50%2.25%cut -25 bp
Oct 30, 2025Hong Kong4.50%4.25%cut -25 bp
Oct 30, 2025United States4.125%3.875%cut -25 bp
Nov 6, 2025Poland4.50%4.25%cut -25 bp
Nov 7, 2025Mexico7.50%7.25%cut -25 bp
Nov 19, 2025Iceland7.50%7.25%cut -25 bp
Nov 21, 2025South Africa7.00%6.75%cut -25 bp
Nov 27, 2025Israel4.50%4.25%cut -25 bp
Nov 27, 2025New Zealand2.50%2.25%cut -25 bp
Dec 4, 2025Poland4.25%4.00%cut -25 bp
Dec 5, 2025India5.50%5.25%cut -25 bp
Dec 10, 2025Saudi Arabia4.50%4.25%cut -25 bp
Dec 11, 2025Hong Kong4.25%4.00%cut -25 bp
Dec 11, 2025Kuwait3.75%3.50%cut -25 bp
Dec 11, 2025United States3.875%3.625%cut -25 bp
Dec 12, 2025Philippines4.75%4.50%cut -25 bp
Dec 12, 2025Türkiye39.50%38.00%cut -150 bp
Dec 17, 2025Chile4.75%4.50%cut -25 bp
Dec 17, 2025Thailand1.50%1.25%cut -25 bp
Dec 18, 2025United Kingdom4.00%3.75%cut -25 bp
Dec 19, 2025Mexico7.25%7.00%cut -25 bp
Dec 22, 2025Japan0.50%0.75%hike +25 bp
Dec 22, 2025Russia16.50%16.00%cut -50 bp
Dec 24, 2025North Macedonia5.35%4.00%cut -135 bp

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