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Monetary Policy Week in Review – Dec. 8, 2012: Global economy asynchronous, euro zone the center of vortex
Last week 11 central banks took monetary policy decisions, with four banks (Australia, Uganda, Poland and Azerbaijan) cutting rates, one bank (Malawi) raising rates and the remaining six (Canada, United Kingdom, the European Central Bank, New Zealand, Egypt and Peru) keeping rates on hold. Year-to-date, the 88 central banks followed by Central Bank News have cut their policy rates 118 times and only raised them 29 times, i.e. rates have been cut more than four times as often as they have been raised, illustrating the easy policy stance worldwide. Central banks in developed markets have cut rates 15 times so for far ... (full story)