March 20, 2020 / 4:35 PM / 8 days ago

FACTBOX-Global central banks slash rates following coronavirus outbreak

    March 20 (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 follow the table.
   
 Date        Central              Rate cut     New rate
 announced   Bank/country         (bps)        
 20/03/2020  National Bank of             -50        2.00
             Romania                           
 20/03/2020  Bank of Thailand             -25        0.75
 20/03/2020  Norges Bank /                -75        0.25
             Norway                            
 19/03/2020  Central Reserve             -100        1.25
             Bank of Peru                      
 19/03/2020  Bank of England              -15        0.10
             ******                            
 19/03/2020  South African               -100        5.25
             Reserve 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        Refinancing        5.00
             Vietnam                     rate            
                                         -100            
                                                         
                                  Discount           3.50
                                         rate  
                                          -50  
 16/03/2020  Central Bank of             -100        2.50
             Jordan                            
 16/03/2020  Central Bank of              -75        1.00
             Chile                             
 16/03/2020  Central Bank of        Overnight       10.25
             Egypt                    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 /              -50        0.75
             South 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 /                -50        1.00
             Norway                            
 12/03/2020  European Central       -25 TLTRO   -0.75% on
             Bank / 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 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.

    
    The Fed, along with the ECB, Bank of Canada, Bank of
England, Bank of Japan and the Swiss National Bank also agreed
on Sunday to offer three-month credit in U.S. dollars on a
regular basis and at a rate cheaper than usual.
    
** 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.


 (Compiled by Reuters Polls; Editing by Nick Zieminski and Mark
Potter)
  
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