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Policy rates worldwide in 2026: 36 hikes, 25 cuts

Areas38

2026: year to date.

Hikes36

Cuts25

Median at year end4.25%

Rate at year end

Türkiye37%

Russia14%

Brazil13.75%

Colombia12.25%

Iceland8%

South Africa7.25%

Romania6.5%

Mexico6.5%

Serbia5.75%

Indonesia5.75%

Hungary5.5%

India5.25%

Philippines5%

Saudi Arabia4.5%

Norway4.5%

Chile4.5%

Australia4.35%

Peru4.25%

North Macedonia4.25%

Hong Kong4.25%

United States3.875%

Poland3.75%

United Kingdom3.75%

Czechia3.75%

Kuwait3.5%

Israel3.25%

South Korea3%

China3%

New Zealand2.75%

Malaysia2.75%

Euro area2.5%

Morocco2.25%

Canada2.25%

Denmark2.1%

Sweden1.75%

Japan1.25%

Thailand1%

Switzerland0%

Number of changes

Hungary6

Russia5

Brazil5

Israel4

Colombia4

Philippines4

Australia3

Iceland3

Indonesia3

Mexico2

Norway2

South Africa2

Denmark2

Japan2

Euro area2

New Zealand2

South Korea2

Türkiye1

Thailand1

Poland1

North Macedonia1

Czechia1

Saudi Arabia1

Hong Kong1

United States1

All changes

Date	Country / region	From	To	Change
Jan 8, 2026	Israel	4.25%	4.00%	cut -25 bp
Jan 23, 2026	Türkiye	38.00%	37.00%	cut -100 bp
Feb 2, 2026	Colombia	9.25%	10.25%	hike +100 bp
Feb 4, 2026	Australia	3.60%	3.85%	hike +25 bp
Feb 16, 2026	Russia	16.00%	15.50%	cut -50 bp
Feb 20, 2026	Philippines	4.50%	4.25%	cut -25 bp
Feb 25, 2026	Hungary	6.50%	6.25%	cut -25 bp
Feb 25, 2026	Thailand	1.25%	1.00%	cut -25 bp
Mar 5, 2026	Poland	4.00%	3.75%	cut -25 bp
Mar 18, 2026	Australia	3.85%	4.10%	hike +25 bp
Mar 18, 2026	Iceland	7.25%	7.50%	hike +25 bp
Mar 19, 2026	Brazil	15.00%	14.75%	cut -25 bp
Mar 23, 2026	Russia	15.50%	15.00%	cut -50 bp
Mar 27, 2026	Mexico	7.00%	6.75%	cut -25 bp
Apr 1, 2026	Colombia	10.25%	11.25%	hike +100 bp
Apr 24, 2026	Philippines	4.25%	4.50%	hike +25 bp
Apr 27, 2026	Russia	15.00%	14.50%	cut -50 bp
Apr 30, 2026	Brazil	14.75%	14.50%	cut -25 bp
May 6, 2026	Australia	4.10%	4.35%	hike +25 bp
May 8, 2026	Mexico	6.75%	6.50%	cut -25 bp
May 8, 2026	Norway	4.00%	4.25%	hike +25 bp
May 20, 2026	Indonesia	4.75%	5.25%	hike +50 bp
May 20, 2026	Iceland	7.50%	7.75%	hike +25 bp
May 28, 2026	Israel	4.00%	3.75%	cut -25 bp
May 29, 2026	South Africa	6.75%	7.00%	hike +25 bp
Jun 9, 2026	Indonesia	5.25%	5.50%	hike +25 bp
Jun 12, 2026	Denmark	1.60%	1.85%	hike +25 bp
Jun 17, 2026	Japan	0.75%	1.00%	hike +25 bp
Jun 17, 2026	North Macedonia	4.00%	4.25%	hike +25 bp
Jun 17, 2026	Euro area	2.00%	2.25%	hike +25 bp
Jun 18, 2026	Brazil	14.50%	14.25%	cut -25 bp
Jun 18, 2026	Indonesia	5.50%	5.75%	hike +25 bp
Jun 19, 2026	Czechia	3.50%	3.75%	hike +25 bp
Jun 19, 2026	Philippines	4.50%	4.75%	hike +25 bp
Jun 22, 2026	Russia	14.50%	14.25%	cut -25 bp
Jun 24, 2026	Hungary	6.25%	6.00%	cut -25 bp
Jun 25, 2026	Hungary	6.00%	6.25%	hike +25 bp
Jul 1, 2026	Colombia	11.25%	12.00%	hike +75 bp
Jul 1, 2026	Hungary	6.25%	6.00%	cut -25 bp
Jul 9, 2026	Israel	3.75%	3.50%	cut -25 bp
Jul 9, 2026	New Zealand	2.25%	2.50%	hike +25 bp
Jul 16, 2026	South Korea	2.50%	2.75%	hike +25 bp
Jul 22, 2026	Hungary	6.00%	5.75%	cut -25 bp
Jul 27, 2026	Russia	14.25%	14.00%	cut -25 bp
Aug 6, 2026	Brazil	14.25%	14.00%	cut -25 bp
Aug 19, 2026	Iceland	7.75%	8.00%	hike +25 bp
Aug 26, 2026	Hungary	5.75%	5.50%	cut -25 bp
Aug 27, 2026	South Korea	2.75%	3.00%	hike +25 bp
Aug 28, 2026	Philippines	4.75%	5.00%	hike +25 bp
Sep 3, 2026	Israel	3.50%	3.25%	cut -25 bp
Sep 3, 2026	New Zealand	2.50%	2.75%	hike +25 bp
Sep 11, 2026	Denmark	1.85%	2.10%	hike +25 bp
Sep 16, 2026	Saudi Arabia	4.25%	4.50%	hike +25 bp
Sep 16, 2026	Euro area	2.25%	2.50%	hike +25 bp
Sep 17, 2026	Brazil	14.00%	13.75%	cut -25 bp
Sep 17, 2026	Hong Kong	4.00%	4.25%	hike +25 bp
Sep 17, 2026	United States	3.625%	3.875%	hike +25 bp
Sep 24, 2026	Japan	1.00%	1.25%	hike +25 bp
Sep 25, 2026	Norway	4.25%	4.50%	hike +25 bp
Sep 25, 2026	South Africa	7.00%	7.25%	hike +25 bp
Oct 1, 2026	Colombia	12.00%	12.25%	hike +25 bp

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