By Central Bank News
The past week in monetary policy saw interest rate decisions by six central banks around the world, with two (Brazil and Hungary) cutting rates, three banks (Israel, Norway and Georgia) keeping rates unchanged while Tunisia cut its rates.
Of special note was Brazil’s latest cut in interest rates and the bank’s message that the end to its year-long rate cutting campaign is drawing near.
LAST WEEK’S MONETARY POLICY DECISIONS:
| COUNTRY | NEW RATE | CURRENT RATE | RATE 1 YR AGO |
| ISRAEL | 2.25% | 2.25% | 3.25% |
| HUNGARY | 6.75% | 7.00% | 6.00% |
| NORWAY | 1.50% | 1.50% | 2.25% |
| BRAZIL | 7.50% | 8.00% | 12.00% |
| TUNISIA | 3.75% | 3.50% | 4.00% |
| GEORGIA | 5.75% | 5.75% | 7.50% |
NEXT WEEK:
The central bank calendar for next week gets busy, with the main focus on the European Central Bank that is expected to reveal further details about its plan to limit the yield on sovereign bonds, at this point mainly in southern Europe.
| COUNTRY | MEETING | CURRENT RATE | RATE 1 YEAR AGO |
| AUSTRALIA | 4-Sep | 3.50% | 4.75% |
| CANADA | 5-Sep | 1.00% | 1.00% |
| POLAND | 5-Sep | 4.75% | 4.75% |
| THAILAND | 5-Sep | 3.00% | 3.50% |
| EURO ZONE | 6-Sep | 0.75% | 1.50% |
| SWEDEN | 6-Sep | 1.50% | 2.00% |
| UNITED KINGDOM | 6-Sep | 0.50% | 0.50% |
| MALAYSIA | 6-Sep | 3.00% | 3.00% |
| PERU | 6-Sep | 4.25% | 4.25% |
| SERBIA | 6-Sep | 10.50% | 11.25% |
| MEXICO | 7-Sep | 4.50% | 4.50% |
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