At least 12 central banks have cut interest rates since the start of the year, signaling just how fragile the global economy is right now.

The move to make money even cheaper is sweeping across emerging markets and the developed world. Central banks representing roughly 60% of the global economy are cutting rates, or using other tools to pump more cash into the system.

Australia was the latest to trim rates to record lows this week, following cuts from Canada, Switzerland, Russia, India and others since the start of the year. China — the world’s second biggest economy — cut rates at the end of 2014, and is expected to do so again in 2015.  Read more