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.

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Brazil Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-10-26 09:00 PM Interest Rate Decision 13.75% 13.75% 13.75% 13.75%
2022-12-07 09:30 PM Interest Rate Decision 13.75% 13.75% 13.75% 13.75%
2023-02-01 09:30 PM Interest Rate Decision 13.75% 13.75% 13.75% 13.75%
2023-02-07 11:00 AM BCB Copom Meeting Minutes
2023-02-13 11:30 AM BCB Focus Market Readout
2023-02-20 11:30 AM BCB Focus Market Readout


Related Last Previous Unit Reference
Interest Rate 13.75 13.75 percent Feb 2023
Cash Reserve Ratio 21.00 21.00 percent Jan 2023
Money Supply M1 636678.57 600821.01 BRL Million Dec 2022
Money Supply M0 419659.92 391532.64 BRL Million Dec 2022
Money Supply M2 5001881.37 4893001.28 BRL Million Dec 2022
Money Supply M3 9628336.27 9592376.06 BRL Million Dec 2022
Foreign Exchange Reserves 324702.90 331504.70 USD Million Dec 2022
Banks Balance Sheet 9805648.01 9570133.96 BRL Million Aug 2022
Loans to Private Sector 740638.00 732605.00 BRL Million Dec 2022
Loan Growth 1.30 0.90 percent Dec 2022
Central Bank Balance Sheet 4063046000.00 4036010000.00 BRL Thousand Sep 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
13.75 13.75 45.00 2.00 1999 - 2023 percent Daily

News Stream
Brazil Keeps Rates Steady at 13.75%
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.
2023-02-01
Brazil Leaves Rates Steady
The central bank of Brazil left its key Selic rate steady at 13.75% for a third consecutive meeting in December 2022, in line with market expectations, saying the decision aims to balance risks to inflation and growth. Policymakers said the economy is expected to slow while inflation remains elevated and also mentioned the uncertainty around the fiscal policy at a time a spending boost is planned by the new President Lula. The central bank added that future monetary policy steps can be adjusted and that it will not hesitate to raise rates again if the disinflation process does not go as expected.
2022-12-07
Brazil Maintains Interest Rate at 13.75%
The Central Bank of Brazil decided to keep the Selic rate steady at 13.75% on October 26th, 2022, as widely expected. Brazil's inflation eased further to 7.71% in September of 2022 from 8.73% in the prior month, marking the first time it fell from double digits in a year. Copom's inflation projections stand at 5.8% for 2022, 4.6% for 2023, and 2.8% for 2024. Regarding the Brazilian economy, policymakers noted that it remains resilient while the most recent indicators continued to indicate growth.
2022-10-26