Introducing the Global Monetary Policy Rate Index
Central Bank News has developed a set of interest rate indexes to track broad trends in monetary policy across the globe. The index is essentially a GDP weighted average interest rate, thus the index can also be used to estimate the cost of capital, assessing monetary policy tightness/looseness, and other economic and financial analysis for the broad groups. There are four indexes: All, Developed, Emerging, and Lesser Developed & Frontier markets. The full methodology and components are detailed below.
Full details: http://www.centralbanknews.info/2012/02/introducing-global-monetary-policy-rate.html