News: FACTBOX-Global central banks slash rates following coronavirus outbreak

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    March 30 (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 follows the table.

     Date		Central Bank/country   Rate cut	 New rate 
     announced						  (bps)		 
    
     30/03/2020  Monetary Authority of	  Lowered		zero 
    			 Singapore				 slope of   
    									   currency   
    										   band   
     30/03/2020  People's Bank of			   -20		2.20 
    			 China								
    										  7-day   
    										reverse   
    									  repo rate   
     27/03/2020  Central Bank of				-50		3.75 
    			 Colombia							 
     27/03/2020  Bank of Canada				 -50		0.25 
    			 *******							  
     27/03/2020  Reserve Bank of India		  -75		4.40 
     26/03/2020  Czech Central Bank			 -75		1.00 
     23/03/2020  Central Bank of Kenya		 -100		7.25 
     20/03/2020  Banxico / Mexico			   -50		6.50 
     20/03/2020  National Bank of			   -50		2.00 
    			 Romania							  
     20/03/2020  Bank of Thailand			   -25		0.75 
     20/03/2020  Norges Bank / Norway		   -75		0.25 
     19/03/2020  Central Reserve Bank		  -100		1.25 
    			 of Peru							  
     19/03/2020  Bank of England				-15		0.10 
    			 ******							   
     19/03/2020  South African Reserve		 -100		5.25 
    			 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 Vietnam  Refinancing		5.00 
    
    										   rate			 
    										   -100			 
    															
    									Discount		   3.50 
    										   rate   
    											-50   
     16/03/2020  Central Bank of			   -100		2.50 
    			 Jordan							   
     16/03/2020  Central Bank of Chile		  -75		1.00 
     16/03/2020  Central Bank of Egypt	Overnight	   10.25 
    										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 / South		  -50		0.75 
    			 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 / Norway		   -50		1.00 
     12/03/2020  European Central Bank	-25 TLTRO   -0.75% on 
    
    			 / 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 Canada said on March 27 it would acquire 
    

    Canadian government bonds in the secondary market. It will begin with purchases of C$5 billion per week, across the yield curve.

    ****** 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.

    On March 23 the Fed said it would expand its asset purchases by as much as needed to stabilize financial markets. It also said it would back purchases of corporate bonds, backstop direct loans to companies and soon will roll out a program to get credit to small and medium-sized business.

    • 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.
 
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