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Monetary Policy Week in Review - 2 June 2012
The past week in monetary policy saw interest rate decisions announced by 8 central banks around the world. Those that altered interest rates were: Brazil, cutting 50 basis points to a low of 8.50%; Denmark, trimming a further -15bps to 0.45%; and Uganda dropping -100bps to 20.00%. Meanwhile the central banks that held interest rates unchanged were: Hungary 7.00%, Turkey 5.75%, Zambia 9.00%, Colombia 5.25%, and Israel 2.50%. Elsewhere in monetary policy, the Central Bank of Egypt cut its RRR -200bps to 10 percent. Looking at the central bank calendar, the week ahead is set to be a big one in terms of monetary policy ... (full story)