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 It was the Riksbank's second decisive move in a month, but startled
markets because it came between scheduled policy meetings.
The central bank is one of 24 monetary authorities around the world
to have eased policy this year.
Below is a chronological list of central bank actions taken to
counter the global deflationary pressures stemming largely from
collapsing oil prices, or to boost flagging growth:
Jan. 1 UZBEKISTAN
Uzbekistan's central bank cuts its refinancing rate to 9 percent
from 10 percent.
Jan. 7/Feb. 4 ROMANIA
Romania's central bank cuts its key interest rate by a total of 50
basis points, taking it to a record low of 2.25 percent. Most
analysts polled by Reuters had expected the cut.
Jan. 15 SWITZERLAND
The Swiss National Bank stuns markets by scrapping its
three-year-old on the franc's value against the euro, leading to a
surge in the currency. The de facto tightening, however, is in part
offset by a cut in the interest rate on certain sight deposit
account balances of 0.5 percentage points, to -0.75 percent.
Jan. 15/March 4 INDIA
The Reserve Bank of India unexpectedly lowers its policy rate for
the second time this year, backing the 10-month-old government of
Prime Minister Narendra Modi in its push to revive economic growth
as inflation cools.[ID:nL4N0W61KW]
Jan. 15 EGYPT
Egypt's central bank makes a surprise 50-basis-point cut in its main
interest rates, reducing the overnight deposit and lending rates to
8.75 and 9.75 percent, respectively.
Jan. 16 PERU
Peru's central bank unexpectedly cuts its benchmark interest rate to
3.25 percent from 3.5 percent after the country posts its worst
monthly economic expansion since 2009.
Jan. 20 TURKEY
Turkey's central bank lowers its main interest rate, but draws heavy
criticism from government ministers, who say the 50- basis-point
cut, five months before a parliamentary election, is not enough to
support growth.
Jan. 21 CANADA
The Bank of Canada cuts interest rates to 0.75 percent from 1
percent, where they had been since September 2010, ending the
longest period of unchanged rates in Canada since 1950.
Jan. 22 EUROPEAN CENTRAL BANK
The ECB launches a government bond-buying program which will pump
over 1 trillion euros into the sagging euro zone economy, starting
in March and running to September next year and perhaps beyond.
Jan. 24 PAKISTAN
Pakistan's central bank cuts its key discount rate to 8.5 percent
from 9.5 percent, citing lower inflationary pressure because of
falling global oil prices. Central Bank Governor Ashraf Wathra says
the new rate will be in place for two months, until the next central
bank meeting to discuss further policy.
Jan. 28 SINGAPORE
The Monetary Authority of Singapore unexpectedly eases policy,
saying in an unscheduled policy statement that it will reduce the
slope of its policy band for the Singapore dollar because the
inflation outlook has "shifted significantly" since its last review
in October 2014.
Jan. 28 ALBANIA
Albania's central bank cuts its benchmark interest rate to a record
low 2 percent. This follows three rate cuts last year, the most
recent in November.
Jan. 30/March 13 RUSSIA
Russia's central bank cuts its one-week minimum auction repo rate by
100 basis points to 14 percent, less than two months after cutting
it by two points to 15 percent, as fears of recession mount
following the fall in global oil prices and Western sanctions over
the Ukraine crisis.
[to top of second column] |
Feb. 3 AUSTRALIA
The Reserve Bank of Australia cuts its cash rate to an all-time low
of 2.25 percent, seeking to spur a sluggish economy while keeping
downward pressure on the local dollar.
Feb. 4/28 CHINA
China's central bank cuts interest rates for the second time in one
month to fight off economic slowdown and rising deflation risks.
Following a system-wide cut to bank reserve requirements in early
February, policy makers followed up with a cut in benchmark interest
and saving rates at the end of the month.
Jan. 19/22/29/Feb. 5 DENMARK
The Danish central bank cuts interest rates four times in less than
three weeks and intervenes regularly in the currency market to keep
the crown within the narrow range of its peg to the euro.
Feb. 13/March 18 SWEDEN
Sweden's central bank cuts the key repo rate 0.15 percentage points
to -0.25 percent and says it will buy 30 billion Swedish crowns
($3.40 billion) of government bonds after already completing 10
billion crowns of purchases.
Feb. 17 INDONESIA
Indonesia's central bank cuts its benchmark interest rate by a
quarter of a percentage point to 7.5 percent, the first rate cut in
three years, surprising all 20 economists in a Reuters poll, who had
expected no change.
Feb. 18 BOTSWANA
Botswana's central bank cuts its benchmark lending rate by 100 basis
points to 6.5 percent, saying the state of the economy and inflation
outlook provided scope for easing monetary policy.
Feb. 23 ISRAEL
The Bank of Israel lowers its benchmark interest rate to 0.1 percent
from 0.25 percent, its first reduction in six months, amid
persistent deflation and a strengthening shekel.
March 4 POLAND
Poland's central bank cuts interest rates by 50 basis points -- a
bigger-than-expected reduction that brings rates to an all-time low
of 1.50 percent, to curb deflation and prevent excessive gains of
its currency.
March 11 THAILAND
Thailand's central bank cuts its benchmark interest rate by 25 basis
points to 1.75 percent in a bid to spark the stubbornly sluggish
economy. The cut was the first rate change in a year and expected by
only five of 21 analysts in a Reuters poll.
[ID:nL4N0WC2B9]
March 12 SOUTH KOREA
South Korea's central bank cuts interest rates for the first time in
five months in a surprise move, lowering its base rate by 25 basis
points to a record low of 1.75 percent. It is the second surprise
cut from an Asian central bank in 24 hours, following Thailand's
move the day before.
March 12 SERBIA
Serbia's central bank cuts its benchmark interest rate for the first
time since November to 7.5 percent from 8 percent, as expected, in a
move to ward off deflation and support economic growth after a new
IMF loan deal.
(Compiled by Jamie McGeever; Editing by Larry King)
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