The central bank of Brazil kept its key Selic rate on hold at 13.75% for the sixth consecutive meeting in May 2023, as widely expected. In its first monetary policy meeting after the government proposed its long-awaited new fiscal rules, the board said it is "less likely" to resume hikes. The bank decided to 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 eased to 4.65% in March from 5.6% in February 2023, while the bank’s Inflation expectations for 2023 and 2024 stand at 5.8% and 3.6%, respectively. The board also mentioned that global activity and inflation remain resilient and the monetary tightening continues to advance in major economies. source: Banco Central do Brasil
Interest Rate in Brazil averaged 13.93 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 June 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 10.00 percent in 2024, according to our econometric models.