BizSugar.com › News › Monetary Policy Week in Review - 27 Nov 2011

The past week in monetary policy saw interest rate decisions announced by 6 central banks around the world. Of those changing rates, Georgia dropped -25bps to 7.00%, Egypt increased +100bps to 9.25%, and Colombia increased +25bps to 4.75%. Meanwhile those that held interest rates unchanged were Turkey at 5.75%, Nigeria at 12.00%, and Russia at 8.25%. Croatia also announced a cut to its Lombard rate (-275bps to 6.25%). Elsewhere, China made headlines when it was revealed that a number of rural cooperative banks were to have their required reserve ratios reversed by 50 basis points to 16.00%. Also, the ECB noted it had purchased EUR 8 billion last week, up from EUR 4.5 billion the previous week.