November 20th, 2009 | by admin |
(Updates with Turkish rate cut)
LONDON, Nov 20 (Reuters) - Australia's central bank raised interest ratesfor a second month running last month, by a quarter point to 3.5 percent, as itsteadily withdrew stimulus from an improving economy.
As a result the average rate set by 11 leading central banks -- the fivethat decide monetary policy for the G7 nations plus six other major banks --rose to 1.03 percent from 1.01 percent.
Also in October, Norway's central bank ordered the first interest rateincrease in Europe since the global financial crisis bit hard a year ago andsignalled more tightening to come as the economy recovers from a mild downturn.
On May 7, the European Central Bank cut its main interest rate by 25 basispoints to 1.0 percent. As a result, the average rate set by central banks of theGroup of Seven nations fell to 0.40 percent from 0.45 percent.
For interest rate changes in 2008 please double click on [ID:nL2303706]
The following table of average rates is aimed at reflecting the movement ofofficial policy rates during the economic cycle rather than actual borrowingcosts.
2009 MONTH: END07..END08..01...02...03...04...05...06...07...08...09...10...11...12 ------------------------------------------------------------------------------ G7 AVG: 3.70 1.25 0.95 0.85 0.55 0.45 0.40 - - - - - - - 11 AVG: 4.52 2.25 1.91 1.63 1.32 1.13 1.03 1.00 0.98 0.96 - 0.98 - - ------------------------------------------------------------------------------ FED 4.25 0/0.25 - - - - - - - - - - - - BOJ 0.50 0.10 - - - - - - - - - - - - ECB 4.00 2.50 2.00 - 1.5 1.25 1.0 - - - - - - - BOE 5.50 2.00 1.50 1.0 0.5 - - - - - - - - - BOC 4.25 1.50 1.00 - 0.5 0.25 - - - - - - - - ------------------------------------------------------------------------------ SNB 2.75 0.50 - - 0.25 - - - - - - - - - RBA 6.75 4.25 - 3.25 - 3.0 - - - - - 3.25 3.5 - RBNZ 8.25 5.00 3.5 - 3.0 2.5 - - - - - - - - RIKSBK 4.00 2.00 - 1.0 - 0.5 - - 0.25 - - - - - NORWAY 5.25 3.00 - 2.5 2.0 - 1.5 1.25 - - - 1.50 - - DENMARK 4.25 3.75 3.0 - 2.25 2.0 1.65 1.55 - 1.35* - - - - ------------------------------------------------------------------------------ NO. OF RATE CHANGES: 2008: 54 5 4 7 6 3 2 1 2 - 2 1 - ------------------------------------------------------------------------------ MONTH: END07..END08..01...02...03...04...05...06...07...08...09...10...11...12 ------------------------------------------------------------------------------ EASTERN EUROPE: POLAND 5.00 5.00 4.25 4.0 3.75 - - 3.5 - - - - - - HUNG 7.50 10.0 9.5 - - - - - 8.5 8.0 7.5 7.0 - - CZECH 3.50 2.25 - 1.75 - - 1.5 - - 1.25 - - - - RUSSIA 10.0 13.0 - - - 12.5 12.0 11.5 11.0 10.75 10.5 9.5 - - UKRAINE 8.0 12.0 - - - - - 11.0 - 10.25 - - - - ROMANIA 7.5 10.25 - 10.0 - - 9.5 9.0 - 8.5 8.0 - - - ------------------------------------------------------------------------------ LATIN AMERICA: BRAZIL 11.25 13.75 12.75 - 11.25 10.25 - 9.25 8.75 - - - - - MEXICO 7.5 8.25 7.75 7.5 6.75 6.0 5.25 4.75 4.5 - - - - - CHILE 6.0 8.25 7.25 4.75 2.25 1.75 1.25 0.75 0.5 - - - - - COLOMBIA 9.5 9.5 9.0 8.0 7.0 6.0 5.0 4.5 - - 4.0 - - - ------------------------------------------------------------------------------ ASIA KOREA 5.00 3.00 2.5 2.0 - - - - - - - - - - THAI 3.25 2.75 2.0 1.5 - 1.25 - - - - - - - - PHIL 5.25 5.5 5.0 - 4.75 4.5 4.25 - 4.0 - - - - - TAIWAN 3.375 2.0 1.5 1.25 - - - - - - - - - - INDS 8.00 9.25 8.75 8.25 7.75 7.5 7.25 7.0 6.75 6.50 - - - - INDIA 7.75 6.5 5.5 - 5.0 4.75 - - - - - - - - CHINA 7.47 5.31 - - - - - - - - - - - - (For more Asian rates please double click on [ID:nASIAINT]) ------------------------------------------------------------------------------ MIDDLE EAST/AFRICA: SARB 11.0 11.5 - 10.5 9.5 8.5 7.5 - - 7.0 - - - - ISRAEL 4.25 1.75 1.0 0.75 0.5 - - - - 0.75 - - - - TURKEY 15.75 15.00 13.00 11.5 10.5 9.75 9.25 8.75 8.25 7.75 7.25 6.75 6.50 - ------------------------------------------------------------------------------ MONTH:DEC07..DEC08..01...02...03...04...05...06...07...08...09...10...11...12 * The Danish central bank cut interest rates twice by 10 bps in August, 2009.
NOTES:
If rates change more than once a month, the last rate for that month islisted.
The Swiss National Bank targets a range for the three-month Swiss francLIBOR rate. It currently targets roughly the midpoint of that range. ------------------------------------------------------------------------------
INTEREST RATES. (All the interest rates are policy rates identified by eachcentral bank):
GROUP OF SEVEN CENTRAL BANKS:
U.S FEDERAL RESERVE = federal funds rate
BANK OF JAPAN = overnight call rate
EUROPEAN CENTRAL BANK = refi rate
BANK OF ENGLAND = bank rate
BANK OF CANADA = overnight funding rate
MAJOR CENTRAL BANKS:
SWISS NATIONAL BANK = 3-month Swiss Libor
RESERVE BANK OF AUSTRALIA = cash rate
RESERVE BANK OF NEW ZEALAND = cash rate
SWEDISH RIKSBANK = repo rate
NORGES BANK = deposit rate
DENMARKS NATIONALBANK = Lending rate
CENTRAL AND EASTERN EUROPE:
NATIONAL BANK OF POLAND (NBP): 28-day intervention rate
NATIONAL BANK OF HUNGARY: (NBH) 2-week deposit rate
CZECH NATIONAL BANK (CNB): 2-week repo rate
CENTRAL BANK OF RUSSIAN FEDERATION (CBR): refinancing rate
NATIONAL BANK OF UKRAINE (NBU): discount rate
NATIONAL BANK OF ROMANIA (NBR): monetary policy rate
LATIN AMERICA:
CENTRAL BANK OF BRASIL (BCB): Selic rate
CENTRAL BANK OF CHILE (BCC): Discount rate
BANK OF MEXICO: Overnight lending rate
CENTRAL BANK OF COLOMBIA: Intervention rate
ASIA:
BANK OF KOREA: Overnight call rate
BANK OF THAILAND: 1-day repurchase (repo) rate.
CENTRAL BANK OF PHILIPPINES: Overnight borrowing rate
CENTRAL BANK OF CHINA (TAIWAN): Discount rate
BANK INDONESIA: Bank Indonesia (BI) reference rate
RESERVE BANK OF INDIA: Repo rate
PEOPLE'S BANK OF CHINA: One-year yuan lending rate
MIDDLE EAST/AFRICA:
SOUTH AFRICAN RESERVE BANK: Repurchase rate
BANK OF ISRAEL: Short-term lending rate
CENTRAL BANK OF TURKEY: Overnight borrowing
(editing by Mike Peacock)
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