Global Monetary Policy Rates – Nov. 2012: Interest rates continue to fall, average global rate down to 5.9%

Global monetary policy interest rates were cut by 470 basis points during November to an average 5.91 percent from October’s 5.96 percent, strengthening this year’s trend of falling interest rates.

 Benchmark interest rates at the 88 central banks followed by Central Bank News have been declining steadily all year, from an average of 6.42 percent in the first quarter to 6.31 percent in the second and 6.11 percent in the third quarter of 2012.
 In the month of November, eight central banks cut policy rates compared with three banks (Iceland, Serbia and Bulgaria) that raised rates, boosting the number of rate cuts in the first 11 months of this year to 114 compared with 28 rate increases.

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