LONDON, Sept 1 (Reuters) - Central banks worldwide have cut interest rates in recent months, providing in some cases unprecedented amounts of stimulus to help soften the blow to the global economy of the COVID-19 pandemic and to keep markets functioning. Interest rates set by the central banks listed are their usual benchmark policy rates unless stated otherwise. Asset purchases, or quantitative easing (QE), are cited as a brief overview of announced intended amounts. This item does not attempt to list all of what are in some cases large numbers of smaller policy announcements. For a separate FACTBOX outlining the policy response in major economies, including fiscal policy: MAJOR GLOBAL CENTRAL BANKS Country Policy Current Date Latest Quantitative easing/asset purchases/ rate rate change/decision market liquidity operations United Fed funds 0.00-0.2 March 3 -50 bps Buying unlimited quantities of U.S. States target 5 Treasuries, mortgage-backed and agency March 15 -100 bps securities after initially announcing an additional $700 billion Buying municipal bonds, corporate bonds and ETFs Dollar swap lines set up with several major central banks $2.3 trillion in loan arrangements for local governments, small and mid-sized businesses Offers to buy bonds of up to three years' duration from counties with as few as 500,000 residents and cities with as few as 250,000 residents Euro zone TLTRO rate -1.00 March 12 -25bps 750 billion euros in additional asset No change to main purchases, taking the total to about -0.50% deposit 1.1 trillion euros this year, after rate or 0% refi initially adding 120 billion euros to rate its existing asset-purchase programme Aril 30 -25 bps Removes cap on how much in bonds it may buy from any euro zone member country Launches a new loan scheme called Pandemic Emergency Longer-Term Refinancing Operations or PELTROs Increases the size of its Pandemic Emergency Purchase Programme to 1.35 trillion euros from 750 billion euros and extends it until June 2021 at least Britain Bank Rate 0.10 March 11 -50 bps 200 billion pounds of additional asset purchases March 19 -15 bps Reduces capital buffer requirement for banks Will buy investment-grade commercial paper with maturities up to 12 months Increases bond-buying programme by 100 billion pounds Japan Interest -0.10 March 16 No change to -0.1% Planned annual increase in the Bank's on excess short-term rate or government bond holdings held at 80 reserves around 0% JGB trillion yen 10-year yield target 2 trillion yen of commercial paper and corporate bonds to be bought by September, temporarily lifts target for annual purchases of ETFs to 12 trillion yen Introduces new lending facility worth 8 trillion yen Pledges to buy unlimited amounts of bonds; will boost three-fold the maximum amount of corporate bonds and commercial debt it buys to 20 trillion yen; other steps Launches its own version of the U.S. Federal Reserve's "Main Street" lending programme to channel nearly $280 billion to small businesses Extends to March 2021 emergency relief announced in March and April Extends deadline for virus-combating steps by six months Offers to pump 1.7 trillion yen into the economy under its lending scheme Canada Overnight 0.25 March 4 -50 bps To buy C$5 billion of government target securities weekly rate March 13 -50 bps Eligible collateral for term repo March 27 -50 bps operations expanded Launches C$50 billion insured mortgage purchase programme; C$10 billion credit support programme for businesses China 1-year 3.85 Feb 20 -10 bps Lowers 1-year medium-term lending Loan Prime facility (MLF) rate on loans to Rate April 20 -20 bps financial institutions to 2.95% from 3.15% Cuts the amount of cash that small banks must hold as reserves by 50 bps to 6.50%, releasing around 400 billion yuan Cuts 7-day reverse repo rate to 2.20% from 2.40% Cuts 5-year LPR by 10 bps to 4.65% from 4.75% Lowers the 1-year interest rate on its targeted medium-term lending facility (TMLF) by 20 bps to 2.95% from 3.15% Australia Cash rate 0.25 March 3 -25 bps Government bond purchases, targeting around 0.25% for 3-year yields March 19 -25 bps A$15 billion purchases of residential mortgage-backed and other asset-backed securities A$90 billion funding facility to banks at fixed rate of 0.25% Increases the size of its term funding facility to around A$200 billion at a fixed rate of 25 bps for three years New Zealand Overnight 0.25 March 16 -75 bps To buy up to NZ$30 billion worth of Cash Rate government bonds. Also will buy up to NZ$3 billion of local government debt Doubles the amount of bonds it will buy as part of its quantitative easing programme and says negative interest rates will become an option in the future Expands asset purchase programme to as much as NZ$100 billion, from NZ$60 billion previously Norway Policy 0.00 March 13 -50 bps Central bank offers cheap loans to rate banks and financial institutions March 20 -75 bps May 7 -25 bps Sweden Repo rate 0.00 March 16 No change Central bank offers 500 billion crowns in loans to companies via banks and boosts its purchases of securities by 300 billion crowns Expands asset purchase programme to 500 billion crowns and extends its duration to the end of June 2021 Switzerland Policy -0.75 March 19 No change Sets up refinancing facility for rate unlimited supply of credit to banking system OTHER G20 CENTRAL BANKS Russia Policy 4.25 April 24 -50 bps rate June 19 -100 bps July 24 -25 bps India Repo rate 4.00 March 27 -75 bps Targeted long-term repo operations and other regulatory measures for banks May 22 -40 bps worth up to 500 billion rupees Cuts reverse repo rate 40 bps to 3.35% Opens a special liquidity facility of up to 500 billion rupees to help mutual funds cope with liquidity strain Indonesia 7-day 4.00 Feb 20 -25 bps Cuts reserve requirement ratio by 200 reverse bps for conventional banks and 50 bps repurchase March 19 -25 bps for Islamic banks, both to 3.50%, rate tweaks liquidity rules, effective May June 18 -25 bps 1 July 16 -25 bps Brazil Selic rate 2.00 March 18 -50 bps Announces 1.2 trillion reais of liquidity, credit and capital measures May 6 -75 bps June 17 -75 bps Aug 6 -25 bps South Korea Base rate 0.50 March 16 -50 bps Central bank sets up plan for brokerages to borrow funds against May 28 -25 bps collateral that includes AA- rated corporate bonds Raises the ceiling for its special loans programme by 5 trillion won to 35 trillion won South Repo rate 3.50 March 19 -100 bps Will buy South African government Africa bonds on the secondary market April 14 -100 bps May 21 -50 bps July 23 -25 bps Mexico Overnight 4.50 March 20 -50 bps Announces liquidity and credit steps target worth $31 billion, cuts rates on its rate April 21 -50 bps additional ordinary liquidity facility, reduces by 50 billion pesos May 14 -50 bps in total private banks' reserve requirement June 25 -50 bps Aug 13 -50 bps Turkey 1-week 8.25 March 17 -100 bps Central bank doubles limit for bond repo rate buying this year to 10% of total April 22 -100 bps central bank assets. Extends 60 billion lira worth of rediscount May 21 -50 bps credits and adds more lending options well below its 9.75% policy rate Saudi Repo rate 1.00 March 3 -50 bps Saudi Arabian Monetary Authority sets Arabia up 50 billion riyal package to help March 16 -75 bps SMEs Provides 50 billion riyals to support liquidity in the banking sector OTHER WORLD CENTRAL BANKS Armenia Refinancin 4.50 March 17 -25 bps g rate April 28 -25 bps June 16 -50 bps Bahrain 1-week 1.00 March 16 -75 bps Cuts overnight lending ratio to 1.70% deposit from 2.45% rate Chile Monetary 0.50 March 16 -75 bps Policy Rate March 31 -50 bps Colombia Interventi 2.00 March 27 -50 bps Adds nearly 30 trillion pesos of on Rate liquidity, including reductions in April 30 -50 bps reserve requirements, debt purchases and repos May 29 -50 bps June 30 -25 bps July 31 -25 bps Aug 31 -25 bps Czech 2-week 0.25 March 16 -50 bps Republic repo rate March 26 -75 bps May 7 -75 bps Egypt Overnight 10.25 March 16 -300 bps lending rate Ghana MPC Rate 14.50 March 18 -150 bps Hong Kong Base Rate 0.86 March 4 -50 bps Cuts financial institutions' reserve requirements to 1% from 2% of March 16 -64 bps risk-weighted assets, estimated to be worth HK$500 billion Hungary Base rate 0.60 April 28 No change to main Began bond-buying and mortgage bond base rate purchases on May 4 without any set target amount June 23 -15 bps July 21 -15 bps Iceland Deposit 1.00 March 11 -50 bps Announces asset purchases, cuts rate capital reserve buffer to 0% from 2%, March 18 -50 bps sets up credit facility to offer collateralised loans to banks May 20 -75 bps Israel BOI 0.10 April 6 -15 bps Expands repo transactions to include Interest corporate bonds; will provide loans to Rate banks to increase credit to SMEs for 5 billion shekels Plans to buy 15 billion shekels of higher-rated corporate bonds in the secondary market Jordan CBJ Main 2.50 March 4 -50 bps Cuts compulsory reserves for Rate commercial banks to 5% from 7%, worth March 16 -100 bps more than 500 million dinars of liquidity Kazakhstan Base rate 9.00 April 3 -250 bps Cuts its policy rate band to 1.5 percentage points from 2 percentage July 20 -50 bps points Kenya Central 7.00 March 23 -100 bps Cuts cash reserve ratio for commercial Bank rate banks to 4.25% from 5.25%, releasing April 29 -25 bps an extra 35.2 billion shillings; triples duration of repurchase agreement transactions with banks to 90 days Malaysia Overnight 1.75 March 3 -25 bps Cuts statutory reserve ratio by 100 policy bps to 2.00%, releasing 30 billion rate May 5 -50 bps ringgit July 7 -25 bps Announces steps to release an estimated 16 billion ringgit of liquidity into the banking system from May 16 Mongolia Policy 9.00 April 13 -100 bps Interest Rate Morocco Policy 1.50 March 17 -25 bps rate June 16 -50 bps Namibia Lending 4.25 April 15 -100 bps rate Nigeria Lending 12.5 May 28 -100 bps rate Pakistan SBP Policy 7.00 March 17 -75 bps Rate March 24 -150 bps April 16 -200 bps May 15 -100 bps June 25 -100 bps Peru Reference 0.25 March 19 -100 bps Announces short-term loans to private rate pension fund managers to help ease the April 9 -100 bps compliance with savings withdrawal law Philippines RRP Rate 2.25 Feb 6 -25 bps Reserve requirement ratio cut by 200 bps to 12% March 19 -50 bps Rates on the overnight deposit and April 16 -50 bps lending facilities reduced to 1.75% and 2.75%, respectively June 25 -50 bps Poland Reference 0.10 March 17 -50 bps Government bond purchases rate April 8 -50 bps May 28 -40 bps Qatar Repo rate 1.00 March 16 -50 bps Romania Policy 1.50 March 20 -50 bps Narrows corridor between lending and rate deposit facilities, provides liquidity May 29 -25 bps to banks via repo transactions, purchases leu-denominated debt on Aug 5 -25 bps secondary market Serbia NBS 1.25 March 11 -50 bps Interest Rates -25 bps April 9 -25 bps June 11 Sri Lanka Standing 5.50 March 16 -25 bps Cuts its bank rate, the emergency Lending funding rate for commercial banks, to Facility April 3 -25 bps 10%, an effective 500-bps reduction Rate May 6 -50 bps July 9 -100 bps Taiwan Policy 1.125 March 19 -25 bps T$200 billion for banks to support rate SMEs Thailand 1-day 0.50 Feb 5 -25 bps Will provide soft loans worth 500 repurchase billion baht plus a loan payment rate March 20 -25 bps holiday to help SMEs; sets up corporate bond stabilisation fund May 20 -25 bps worth 400 billion baht and another to provide liquidity for mutual funds; government bond purchase programme amounting to more than 100 billion baht during 13-20 March 2020 Uganda Central 7.00 April 6 -100 bps Bank rate June 8 -100 bps Ukraine NBU policy 6.00 March 13 -100 bps rate April 23 -200 bps June 11 -200 bps Uzbekistan Policy 15.00 April 14 -100 bps rate Vietnam Refinancin 5.00 March 17 -100 bps g rate (Compiled by Reuters Polls; Editing by Alison Williams, Alexandra Hudson, William Maclean, Barbara Lewis and Paul Simao)
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