Japan: The policy rate is 0.05%, the CPI is 2.8% year-on-year, and the real interest rate is -2.75% (policy rate minus CPI year-on-year). The change in CPI year-on-year compared with the previous data is -2.8%. The policy adjustment is to raise interest rates on March 24, 2024. The Bank of Japan announced the end of its negative interest rate policy on March 19, 2024, the first interest rate hike in 17 years, raising the deposit rate of excess reserves of commercial banks deposited in the Bank of Japan from the previous -0.1% to 0.1% (excluding statutory reserves). The new interest rate took effect on March 21, and the 8-year era of negative interest rates officially came to an end.
Switzerland: The central bank's policy rate is 1.25%, CPI is 1.4% year-on-year, and the real interest rate is 0.15%. The most recent action is a rate cut on June 24, 2024.
Taiwan: The policy rate is 2.00%, the CPI is 2.2% year-on-year, and the actual interest rate is -0.2%. The policy adjustment is to raise interest rates on March 24, 2024.
Thailand: The policy rate is 2.50%, the CPI is 1.5% year-on-year, and the real interest rate is 1%. The policy adjustment is to raise interest rates on September 23, 2023.
Malaysia: Policy rate 3.00%, CPI 1.8% year-on-year, real interest rate 1.2%. The policy adjustment is to raise interest rates on May 23, 2023.
Denmark: Policy rate 3.35%, CPI 2.2% year-on-year, real interest rate 1.15%. The policy adjustment is to cut interest rates on June 24, 2024.
Mainland China: Policy rate 3.45%, CPI 0.3% year-on-year, real interest rate 3.15%. The policy adjustment is to cut interest rates, and the adjustment time is August 23, 2023.
South Korea: Policy rate 3.50%, CPI 2.7% year-on-year, real interest rate 0.8%. The policy adjustment is to raise interest rates on January 23, 2023.
Sweden: Policy rate 3.75%, CPI 3.7% year-on-year, real interest rate 0.05%. The policy adjustment is to cut interest rates on May 24, 2024.
Eurozone: Policy rate 3.75%, CPI 2.6% year-on-year, real interest rate 1.15%. The policy adjustment is to cut interest rates on June 24, 2024.
Australia: Policy rate 4.35%, CPI 3.6% year-on-year, real interest rate 0.75%. The policy adjustment is to raise interest rates on November 23, 2023.
Norway: Policy rate 4.50%, CPI 3.0% year-on-year, real interest rate 1.5%. The policy adjustment is to raise interest rates on December 23, 2023.
Canada: Policy rate 4.75%, CPI 2.9% year-on-year, real interest rate 1.85%. The policy adjustment is to cut interest rates on June 24, 2024.
Czech Republic: Policy rate 4.75%, CPI 2.6% year-on-year, real interest rate 2.15%. Policy adjustment to interest rate cut on May 24, 2024.
UK: Policy rate 5.25%, CPI 2.0% year-on-year, real interest rate 3.25%. The policy adjustment is to raise interest rates on August 23, 2023.
United States: Policy rate 5.38%, CPI 3.3% year-on-year, real interest rate 2.08%. Policy adjustment is to raise interest rates on July 23, 2023.
New Zealand: Policy rate 5.50%, CPI 4.0% year-on-year, real interest rate 1.5%. The policy adjustment is to raise interest rates on May 23, 2023.
Chile: Policy rate 5.75%, CPI 4.1% year-on-year, real interest rate 1.65%. The policy adjustment is to cut interest rates on June 24, 2024.
Poland: Policy rate 5.75%, CPI 2.6% year-on-year, real interest rate 3.15%. The policy adjustment is to cut interest rates on October 23, 2023.
Peru: Policy rate 5.75%, CPI 2.0% year-on-year, real interest rate 3.75%. The policy adjustment is to cut interest rates on May 24, 2024.
Hong Kong, China: Policy rate 5.75%, CPI 1.2% year-on-year, real interest rate 4.55%. The policy adjustment is to raise interest rates on July 23, 2024.
Saudi Arabia: Policy rate 6.00%, CPI 1.6% year-on-year, real interest rate 4.4%. The policy adjustment is to raise interest rates on July 23, 2023.
Indonesia: Policy rate 6.25%, CPI 2.8% year-on-year, real interest rate 3.45%. The policy adjustment is to raise interest rates on April 24, 2024.
India: Policy rate 6.50%, CPI 4.8% year-on-year, real interest rate 1.7%. Policy adjustment to increase interest rates on February 23, 2023.
Philippines: Policy rate 6.50%, CPI 3.9% year-on-year, real interest rate 2.6%. The policy adjustment is to raise interest rates on October 23, 2023.
South Africa: Policy rate 8.25%, CPI 5.2% year-on-year, real interest rate 3.05%. The policy adjustment is to raise interest rates on May 23, 2023.
Brazil: Policy rate is 10.50%, CPI is 3.9% year-on-year, and the real interest rate is 6.6%. The policy adjustment is to cut interest rates on May 24, 2024.
Mexico: Policy rate 11.00%, CPI 4.7% year-on-year, real interest rate 6.3%. The policy adjustment is to cut interest rates on March 24, 2024.
Colombia: Policy rate is 11.25%, CPI is 7.2% year-on-year, and the real interest rate is 4.05%. The policy adjustment is to cut interest rates on April 24, 2024.
Russia: Policy rate 16.00%, CPI 8.3% year-on-year, real interest rate 7.7%. Policy adjustment to increase interest rates on December 23, 2023.
Argentina: Policy rate 40.00%, CPI 276.4% year-on-year, real interest rate -236.4%. The policy adjustment is to cut interest rates on May 24, 2024.
Türkiye: Policy interest rate 50.00%, CPI year-on-year increase 75.5%, actual interest rate -25.5%.
It should be noted that the monetary policies and interest rate adjustments of various countries are based on a comprehensive consideration of various factors such as their domestic economic conditions, inflation levels, and employment conditions. Changes in policy interest rates will have a certain impact on the country's economy, financial markets, and the global economy and financial markets. At the same time, CPI (Consumer Price Index) is an important indicator for measuring inflation levels, and its changes reflect price fluctuations. The economic situation and policy objectives of different countries and regions are different, so these data are for reference only, and the specific situation needs to be analyzed in combination with the actual economic conditions and policy trends of each country. For investors and relevant market participants, it is very important to pay close attention to the policy dynamics and economic data of various countries in order to make reasonable decisions.
In addition, some of the data you provided may have certain errors. For example, the policy rate of the mainland is 3.45%, not 3.5% in the table; the policy rate of the Czech Republic is 4.75%, not 4.5%; the policy rate of Norway is 4.50%, not 4.25%; the policy rate of Colombia is 11.25%, not 11.5%. The analysis I gave is based on the revised data. If you want to know more detailed information about a country or region, you can further refer to relevant economic reports and professional analysis.