The central bank of Brazil left its key Selic rate steady at 13.75% for the fourth consecutive meeting in February 2023, in line with market expectations, and signaled a more cautious stance due to fiscal risks in its first policy decision since the inauguration of the President Luiz Inacio Lula da Silva. The board will maintain its strategy for a longer period to ensure the convergence of inflation, while won't hesitate to resume the tightening cycle if the disinflationary process does not proceed as expected. Annual inflation fell to 5.79% in December 2022 which was recorded in double digits from September 2021 to July 2022. The central bank paused its aggressive tightening cycle in September after 12 straight rate hikes. source: Banco Central do Brasil
Interest Rate in Brazil averaged 13.95 percent from 1999 until 2023, reaching an all time high of 45.00 percent in March of 1999 and a record low of 2.00 percent in August of 2020. This page provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2023.
Interest Rate in Brazil is expected to be 13.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil Interest Rate is projected to trend around 9.00 percent in 2024, according to our econometric models.