Brazil Interest Rate  1999-2018 | Data | Chart | Calendar | Forecast

The Central Bank of Brazil kept its key Selic rate unchanged at 6.50 percent on 20 June 2018 following no change on 16 May 2018. The hold, unanimously voted, matched market expectations and was the second hold after eleven straight cuts, keeping borrowing costs at the lowest in modern history amid below-target inflation and a gradually improving economy, albeit recent mixed data. Interest Rate in Brazil averaged 15.23 percent from 1999 until 2018, reaching an all time high of 45 percent in March of 1999 and a record low of 6.50 percent in March of 2018.

Brazil Interest Rate
width
height
 Preview
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

Learn More Register Login Questions? Click here to contact us
The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us



Brazil Holds Interest Rate as Expected


The Central Bank of Brazil kept its key Selic rate unchanged at 6.50 percent on 20 June 2018 following no change on 16 May 2018. The hold, unanimously voted, matched market expectations and was the second hold after eleven straight cuts, keeping borrowing costs at the lowest in modern history amid below-target inflation and a gradually improving economy, albeit recent mixed data.

Policymakers highlighted the temporary halt in the transportation sector in May makes it more difficult to assess the recent evolution of economic activity. They also underscored a  challenging and volatile global outlook. Regarding the next meetings, the Committee emphasized that risks around its baseline scenario remain in both directions and reiterated that economic conditions prescribe accommodative monetary policy.

The central bank started its easing cycle in October of 2016 after the inflation rate eased from double digits. Consumer prices increased 2.86 percent year-on-year in May 2018 from 2.76 percent in April, against market expectations of a small decrease to 2.74 percent. It was the highest inflation rate since January, mainly due to rising prices of transport, namely fuels such as gasoline and diesel.

The economic recovery is still taking longer than initially expected, with recent mixed data. The IBC-Br index of economic activity in Brazil rose 0.46 percent month-over-month in April of 2018, compared to a downwardly revised 0.51 percent contraction in March. It was the first expansion after three consecutive declines. Year-on-year, the Brazilian economy advanced 3.70 percent on a non-seasonally adjusted basis, after shrinking 0.55 percent in March. Meanwhile, industrial output grew 8.9 percent year-on-year in April 2018, the most since April 2013, compared to a downwardly revised 1.2 percent gain in March and market consensus of a 7.7 percent surge.

The median estimate in the last central bank poll of economists (15 June 2018) currently points to growth of 1.76 percent for 2018 (vs 2.50 percent four weeks ago) and of 2.70 percent for 2019 (vs 3.00 percent). Analysts expect the Selic rate to end 2018 at 6.50 percent (+25 bps). 


Mario | mario@tradingeconomics.com
6/20/2018 9:10:51 PM


Recent Releases

Brazil Unexpectedly Holds Key Rate
The Central Bank of Brazil kept its key Selic rate unchanged at 6.50 percent on 16 May 2018 following a 25-bps slash on 21 March 2018. The hold, unanimously voted, surprised markets who expected a 25bps decline and ended eleven straight cuts, keeping borrowing costs at the lowest in modern history amid below-target inflation and a gradually improving economy, albeit recent setbacks.
Published on 2018-05-17

Brazil Cuts Interest Rate Further
The Central Bank of Brazil cut its key Selic rate by 25 basis points to 6.50 percent on 21 March 2018 following a 25-bps slash on 7 February 2018. The cut, widely anticipated and unanimous, was the eleventh straight, bringing borrowing costs to the lowest in modern history amid below-target inflation and a gradually improving economy. 
Published on 2018-03-21

Brazil Slashes Key Rate Further
The Central Bank of Brazil cut its key Selic rate by 25 basis points to 6.75 percent on 7 February 2018 following a 50-bps slash on 6 December2017. The cut, widely anticipated and unanimous, was the eleventh straight, bringing borrowing costs to the lowest in modern history amid below-target inflation and a gradually improving economy.
Published on 2018-02-07

Brazil Slashes Key Rate to Record Low
The Central Bank of Brazil slashed its key Selic rate by 50 basis points to 7.00 percent on December 6th of 2017 following a 75-bps trim on October 25th of 2017. The cut, widely anticipated and unanimous, was the tenth straight, bringing borrowing costs to the lowest in modern history amid plunging inflation and a slow recovery.
Published on 2017-12-07



Calendar GMT Actual Previous Consensus TEForecast
2018-03-21 09:00 PM Interest Rate Decision 6.50% 6.75% 6.5% 6.75%
2018-05-16 09:00 PM Interest Rate Decision 6.50% 6.50% 6.25% 6.25%
2018-06-20 09:00 PM Interest Rate Decision 6.5% 6.50% 6.5% 6.5%
2018-08-01 09:00 PM Interest Rate Decision 6.5% 6.5%
2018-09-19 09:00 PM Interest Rate Decision 6.5%
2018-10-31 09:00 PM Interest Rate Decision 6.5%


Brazil Money Last Previous Highest Lowest Unit
Interest Rate 6.50 6.50 45.00 6.50 percent [+]
Cash Reserve Ratio 25.00 25.00 100.00 25.00 percent [+]
Money Supply M0 269827.76 269552.91 296755.46 0.00 BRL Million [+]
Money Supply M1 331560.42 333043.71 363025.90 0.00 BRL Million [+]
Money Supply M2 2529760.05 2504318.27 2529760.05 0.01 BRL Million [+]
Money Supply M3 5964813.78 5956968.46 5964813.78 0.01 BRL Million [+]
Foreign Exchange Reserves 379500.00 382549.00 382549.00 1187.00 USD Million [+]
Banks Balance Sheet 5920108.90 5859139.10 6004329.00 1174638.70 BRL Million [+]
Loans to Private Sector 680499.00 680357.00 875284.00 169316.00 BRL Million [+]
Deposit Interest Rate 8.51 12.40 9394.29 7.81 percent [+]
Loan Growth 0.50 0.30 3.68 -1.01 percent [+]
Central Bank Balance Sheet 3224968015.00 3175974117.00 3224968015.00 6.40 BRL Thousand [+]


Brazil Interest Rate

In Brazil, interest rate decisions are taken by The Central Bank of Brazil's Monetary Policy Committee (COPOM). The official interest rate is the Special System of Clearance and Custody rate (SELIC) which is the overnight lending rate. This page provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil Interest Rate - actual data, historical chart and calendar of releases - was last updated on July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6.50 6.50 45.00 6.50 1999 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 17.75 Jun/18
Mexico 7.75 Jun/18
Russia 7.25 Jun/18
Brazil 6.50 Jun/18
India 6.25 Jun/18
Indonesia 5.25 Jun/18
China 4.35 Jun/18
United States 2.00 Jun/18
Australia 1.50 Jul/18
South Korea 1.50 Jun/18
Canada 1.25 Jun/18
United Kingdom 0.50 Jul/18
Euro Area 0.00 Jun/18
France 0.00 Jun/18
Germany 0.00 Jun/18
Italy 0.00 Jun/18
Netherlands 0.00 Jun/18
Spain 0.00 Jun/18
Japan -0.10 Jun/18
Switzerland -0.75 Jun/18


Related
Latest