The time variability of the cosmic-ray (CR) intensity at three different rigidities has been analyzed through the empirical mode decomposition technique for the period 1964-2004. Apart from the ~11?yr cycle, quasi-biennial oscillations (QBOs) have been detected as a prominent scale of variability in CR data, as well as in the heliomagnetic field magnitude at 1?AU and in the sunspot area. The superposition of the ~11?yr and QBO contributions reproduces the general features of the CR modulation, such as most of the step-like decreases and the Gnevyshev Gap phenomenon. A significant correlation has also been found between QBOs of the heliospheric magnetic field and the CR intensity during even solar activity cycles, suggesting that the former are responsible for step-like decreases in CR modulation, probably dominated by the particle diffusion/convection in such periods. In contrast, during odd-numbered cycles, no significant correlation is found. This could be explained with an enhanced drift effect also during the solar maximum or a greater influence of merged interaction regions at great heliocentric distances during odd cycles. Moreover, the QBOs of CR data are delayed with respect to sunspot activity, the lag being shorter for A 0 periods of even cycles (~1-4 months) than for A 0 periods of odd cycles (~7-9 months); we suggest that solar QBOs also affect the recovery of the CR intensity after the solar activity maximum.
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