LONDON, April 9 (Reuters) - Central banks around the world have slashed interest rates in the past few weeks and have provided additional stimulus in some cases to try to help alleviate the threat to the world economy from the coronavirus pandemic.
Following is a list of those rate cuts, with the most recent first. Interest rates are in most cases benchmark policy rates unless stated otherwise. A brief summary of major additional stimulus measures follows the table.
Date
Central Bank/country Rate cut
New rate announced
(bps)
09/04/2020 National Bank of
-25
1.50
Serbia
08/04/2020 National Bank of
-50
0.50
Poland
06/04/2020 Bank of Israel
-15
0.10 06/04/2020 Bank of Uganda
-100
8.00 03/04/2020 Central Bank of Sri
Standing
6.00
Lanka
Deposit
Facility
Rate
-25
Standing
7.00
Lending
Facility
Rate
-25
03/04/2020 National Bank of
-250
9.50
Kazakhstan
31/03/2020 Central Bank of Chile
-50
0.50 30/03/2020 Monetary Authority of
Lowered
zero
Singapore
slope of
currency
band
30/03/2020 People's Bank of
-20
2.20
China
7-day
reverse
repo rate
27/03/2020 Central Bank of
-50
3.75
Colombia
27/03/2020 Bank of Canada
-50
0.25
*******
27/03/2020 Reserve Bank of India
-75
4.40 26/03/2020 Czech Central Bank
-75
1.00 23/03/2020 Central Bank of Kenya
-100
7.25 20/03/2020 Banxico / Mexico
-50
6.50 20/03/2020 National Bank of
-50
2.00
Romania
20/03/2020 Bank of Thailand
-25
0.75 20/03/2020 Norges Bank / Norway
-75
0.25 19/03/2020 Central Reserve Bank
-100
1.25
of Peru
19/03/2020 Bank of England
-15
0.10
******
19/03/2020 South African Reserve
-100
5.25
Bank
19/03/2020 Taiwan Central Bank
-25
1.125 19/03/2020 Bank Indonesia
-25
4.50 19/03/2020 Philippine Central
-50
3.25
Bank
19/03/2020 Reserve Bank of
-25
0.25
Australia *****
18/03/2020 Central Bank of
-50
3.75
Brazil
18/03/2020 Bank of Ghana
-150
14.50 18/03/2020 Central Bank of
-50
1.75
Iceland
17/03/2020 National Bank of
-50
1.00
Poland
17/03/2020 Central Bank of
-25
5.25
Armenia
17/03/2020 Bank Al-Maghrib
-25
2.00
/Morocco
17/03/2020 State Bank of
-75
12.50
Pakistan
17/03/2020 Central Bank of the
Weekly repo
9.75
Republic of Turkey
rate
-100
17/03/2020 State Bank of Vietnam Refinancing
5.00
rate
-100
Discount
3.50
rate
-50
16/03/2020 Central Bank of
-100
2.50
Jordan
16/03/2020 Central Bank of Chile
-75
1.00 16/03/2020 Central Bank of Egypt
Overnight
10.25
lending
rate -300
Overnight
9.25
deposit
rate -300
16/03/2020 Czech Central Bank
-50
1.75 16/03/2020 Central Bank of
One-week
1.00
Bahrain
deposit
rate -75
16/03/2020 Qatar Central Bank
Repo rate
1.00
-50
16/03/2020 Saudi Arabian
Repo rate
1.00
Monetary Authority
-75
16/03/2020 Central Bank of Sri
Standing
6.25
Lanka
Deposit
Facility
Rate
Standing
7.25
Lending
Facility
Rate
16/03/2020 Bank of Korea / South
-50
0.75
Korea
16/03/2020 Bank of Japan ****
No change Short-term
to rates
rate:
-0.1%
Long-term
rate:
10-year
JGB yield
around 0% 16/03/2020 Reserve Bank of New
-75
0.25
Zealand
15/03/2020 Federal
-100
0-0.25
Reserve/United States
***
13/03/2020 Bank of Canada
-50
0.75 13/03/2020 Norges Bank / Norway
-50
1.00 12/03/2020 European Central Bank
-25 TLTRO -0.75% on
/ euro zone **
rate
TLTROs
Deposit
-0.50
rate no
(same)
change
11/03/2020 Bank of England /
-50
0.25
United Kingdom *
11/03/2020 National Bank of
-50
1.75
Serbia
11/03/2020 Central Bank of
-50
2.25
Iceland
05/03/2020 Central Bank of
-50
3.50
Jordan
04/03/2020 Bank of Canada
-50
1.25 04/03/2020 Hong Kong Monetary
-50
1.50
Authority
03/03/2020 Federal
-50 1.00-1.25
Reserve/United States
03/03/2020 Malaysia
-25
2.50 03/03/2020 Reserve Bank of
-25
0.50
Australia
20/02/2020 Bank Indonesia
-25
4.75 20/02/2020 People's Bank of
-10
4.05
China
1-year
Loan Prime
Rate
06/02/2020 Philippine Central
-25
3.75
Bank
05/02/2020 Bank of Thailand
-25
1.00 ******* The Bank of Canada said on March 27 it would acquire Canadian government bonds in the secondary market. It will begin with purchases of C$5 billion per week, across the yield curve. The Bank of England's Monetary Policy Committee also voted unanimously for a 200 billion pound increase in the central bank's bond buying programme to 645 billion pounds. In its first foray into quantitative easing, the Reserve Bank of Australia set a target for the yield on three-year Australian government bonds of around 0.25%, which it plans to achieve by purchases in the secondary market. It also provided a three-year funding facility to the country's banks at a fixed rate of 0.25%. The Bank of Japan eased monetary policy further by ramping up purchases of exchange-traded funds (ETFs) and other risky assets. The central bank also decided to create a new loan program to extend one-year, zero-rate loans to financial institutions. The Fed also said it would purchase $700 billion of securities, including at least $500 billion of U.S. Treasuries and at least $200 billion of mortgage-backed securities. On March 23 the Fed said it would expand its asset purchases by as much as needed to stabilize financial markets. It also said it would back purchases of corporate bonds, backstop direct loans to companies and soon will roll out a program to get credit to small and medium-sized business. The ECB later added to its existing asset purchase programme of 20 billion euros a month with a one-off 120 billion euros this year and another 750 billion euros in a Pandemic Emergency Purchase Programme, taking the total to about 1.1 trillion euros this year. TLTROs are Targeted Long-Term Refinancing Operations, cheap loans to banks. The ECB kept its deposit rate unchanged. The Bank of England also introduced a new programme for cheap credit and reduced a capital buffer to help banks to lend.