Monetary Policy Week in Review - 10 June 2012

The past week in monetary policy saw interest rate decisions announced by 11 central banks around the world.     Those that cut interest rates were: China, by 25 basis points to 6.31%, Australia, by 25 points to 3.5% and Vietnam by 100 points to 11.0%.     There were no central banks that raised rates.     Those central banks that left rates unchanged were the European Central Bank at 1.0%, the Bank of England at 0.5% , the Bank of Canada at 1.0% the Bank of Mexico at 4.5%, the Bank of Korea at 3.25%, the National Bank of Poland at 4.75%, the Central Reserve Bank of Peru at 4.25% and the State Bank of Pakistan at 12.0%.     Looking at the central bank calendar , the week ahead features monetary policy decisions by three SouthEast Asian countries; Indonesia, Thailand and the Philippines. All three central banks are expected to keep rates unchanged.     The Reserve Bank of New Zealand is also widely expected to keep its cash rate at 2.5%, and the Central Bank of Iceland's Monetary Policy Committee meets on Wednesday. The Swiss National Bank publishes its Monetary Policy Assessment on Thursday. The SNB's in-depth assessment is only carried out four times a year. The Bank of Japan meets on Friday, with some economists looking for monetary easing. Jun-12 IDR Indonesia Bank Indonesia Jun-13 THB Thailand Bank of Thailand Jun-13 ISK Iceland Central Bank of Iceland Jun-14 NZD New Zealand Reserve Bank of New Zealand Jun-14 PHP Philippines Central Bank of Philippines Jun-14 CHF Switzerland The Swiss National Bank Jun-15 JPY Japan Bank of Japan