A list of notable central bank rate cuts around the world so far this year amid a slowing global economy
¹: Chile raised rates once this year by 25 bps as well in January.
²: Turkey can be argued as an exception to the list because of the "Erdogan cut".
The idea for the list was inspired by an article from Bloomberg but I decided to expand on that a little. Essentially, it underscores where we are in the global economic cycle and the "scary" part is that we're not even close to the start of a global downturn just yet.
However, if you're wondering why gold remains an attractive proposition over the past four to five months then you really don't have to look no further.
With $17 trillion worth of negative yielding debt in global markets right now, that only adds to more reason why investor appetite for gold has sky-rocketed.
Back to the above, the thing about the list we're seeing is that it is not even close to being complete. Expect it to expand over the next 12 months as we see more countries join in with the likes of Europe, Switzerland, UK and Canada still to follow.
This is but the beginnings of a race to the bottom among global central banks, so yes, don't be surprised if a rate cut comes to a neighbourhood near you. And if anything else, don't expect it to be the last one either.
