The Central Bank of Brazil voted unanimously to trim its key Selic rate by 50 bps to 4.50 percent during its December meeting. It was the fourth consecutive rate cut bringing borrowing costs to its lowest on record, amid the global economic slowdown and a recovery in the domestic economy. Policymakers said that the the current stage of the business cycle needs caution in the conduct of monetary policy and added that next decisions will be data dependent. Interest Rate in Brazil averaged 14.73 percent from 1999 until 2019, reaching an all time high of 45 percent in March of 1999 and a record low of 4.50 percent in December of 2019. source: Banco Central do Brasil

Interest Rate in Brazil is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Brazil to stand at 4.50 in 12 months time. In the long-term, the Brazil Interest Rate is projected to trend around 6.50 percent in 2020, according to our econometric models.

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Brazil Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
4.50 5.00 45.00 4.50 1999 - 2019 percent Daily



Calendar GMT Actual Previous Consensus TEForecast
2019-07-31 09:15 PM 6% 6.5% 6.25% 6.25%
2019-09-18 09:15 PM 5.5% 6% 5.5% 5.50%
2019-10-30 09:00 PM 5.0% 5.5% 5.0%
2019-12-11 09:00 PM 4.5% 5% 4.5%
2020-02-05 09:00 PM 4.5% 4.5%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
2019-10-30
Brazil Trims Interest Rate for 3rd Straight Meeting to 5%
The Central Bank of Brazil voted unanimously to trim its key Selic rate by 50 bps to 5.0 percent during its October meeting. It was the third consecutive rate cut bringing borrowing costs to its lowest on record, amid the global economic slowdown and a more gradual pace of recovery than expected, as underscored in the latest press release. Policymakers deemed that the consolidation of the benign scenario for prospective inflation should permit additional adjustment of the same magnitude and added that the next steps in the conduct of monetary policy will continue to depend on the evolution of economic activity, the balance of risks, and on inflation projections and expectations.

2019-09-18
Brazil Cuts Interest Rate to Fresh Record Low
The Central Bank of Brazil voted unanimously to trim its key Selic rate by 50bps to 5.50 percent during its September meeting, as widely expected. It is the second consecutive rate cut bringing borrowing costs to its lowest on record, amid the global economic slowdown and as key domestic reforms continue to move forward. Policymakers deemed that the consolidation of the benign scenario for prospective inflation should permit additional adjustment of the degree of stimulus and added that the next steps in the conduct of monetary policy will continue to depend on the evolution of economic activity, the balance of risks, and on inflation projections and expectations.

2019-07-31
Brazil Cuts Rate by 50 Bps on Weaker Growth, Lower Inflation
The Central Bank of Brazil voted unanimously to lower its key Selic rate by 50bps to a record low of 6 percent during its July meeting, while markets had forecast a smaller 25bps cut. The Committee signalled further easing, underscoring that recent data indicate weaker economic activity from previous quarters; a decelerating global economy and slower domestic inflation.

2019-06-19
Brazil Holds Rate at 6.5% Amid Economic Struggle
The Central Bank of Brazil voted unanimously to hold its key Selic rate at a record low of 6.50 percent on 19 June 2019, as widely expected. The Committee underscored that recent data on economic activity indicate a halt in the process of economic recovery in the past quarters. The economic recovery is still taking longer than expected, with recent negative data. The Brazilian economy shrank 0.2 percent on quarter in the first quarter of 2019, slowing from a 0.1 percent expansion in the previous period.

2019-05-08
Brazil Holds Interest Rate at 6.5%
The Central Bank of Brazil voted unanimously to hold its key Selic rate at a record low of 6.50 percent on May 8th 2019, as widely expected. Policymakers said that the decision is consistent with the convergence of inflation to the target range and will continue to depend on the evolution of economic activity, inflation outlook and balance of risks. The Committee added that developments of the reform agenda will affect current expectations and macroeconomic projections.

2019-03-20
Brazil Leaves Monetary Policy Unchanged
The Central Bank of Brazil voted unanimously to hold its key Selic rate at a record low of 6.50 percent on March 20th 2019, as widely expected. Policymakers noted that recent data on economic activity came in below expectations, still the domestic economy continues on a gradual recovery path and added that the global outlook remains challenging.


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.

Brazil Money Last Previous Highest Lowest Unit
Interest Rate 4.50 5.00 45.00 4.50 percent [+]
Cash Reserve Ratio 21.00 21.00 100.00 21.00 percent [+]
Money Supply M0 316586.71 296782.89 316586.71 0.00 BRL Million [+]
Money Supply M1 434632.72 400461.83 434632.72 0.00 BRL Million [+]
Money Supply M2 2999376.27 2959812.57 2999376.27 0.01 BRL Million [+]
Money Supply M3 6695726.86 6675767.04 6695726.86 0.01 BRL Million [+]
Foreign Exchange Reserves 356884.00 366376.00 388092.00 1187.00 USD Million [+]
Banks Balance Sheet 6629894.07 6590245.90 6629894.07 4596.15 BRL Million [+]
Loans to Private Sector 576076.00 578334.00 875167.00 169316.00 BRL Million [+]
Deposit Interest Rate 3.33 5.27 54180.08 3.33 percent [+]
Loan Growth 1.10 0.30 3.68 -1.02 percent [+]
Interbank Rate 4.93 4.93 16.05 0.89 percent [+]
Central Bank Balance Sheet 3442882417.00 3560355983.00 3560355983.00 6.40 BRL Thousand [+]