The inductive electric field generated by a time-dependent symmetric ring current has been investigated. The symmetric ring current was modelled by a population of protons drifting in a magnetic dipole field. The interaction of these protons with ion-cyclotron waves was assumed to be the dominant energy loss process for the ring current protons, at least under certain conditions. The calculation, with spectral densities for the ion-cyclotron waves that are based on experimental data, showed that an azimuthal inductive electric field of as much as 0.25 mV/m can be produced by this mechanism. Furthermore there is evidence that if the spectral density of the waves is substantially larger than the one adopted here, the electric field might increase to the order of 1.0 mV/m or more.