The Central Bank of Brazil decided to keep the Selic rate steady at 13.75% on September 21st, 2022, as widely expected. Brazil's inflation eased further to 8.73% in August of 2022 from 10.07% 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. source: Banco Central do Brasil

Interest Rate in Brazil averaged 13.95 percent from 1999 until 2022, reaching an all time high of 45 percent in March of 1999 and a record low of 2 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 October of 2022.

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 10.75 percent in 2023 and 8.00 percent in 2024, according to our econometric models.

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Brazil Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-06-15 09:35 PM Interest Rate Decision 13.25% 12.75% 13.25% 13.25%
2022-08-03 09:00 PM Interest Rate Decision 13.75% 13.25% 13.75% 13.75%
2022-09-21 09:40 PM Interest Rate Decision 13.75% 13.75% 13.75% 13.75%
2022-10-10 11:30 AM BCB Focus Market Readout
2022-10-17 11:30 AM BCB Focus Market Readout
2022-10-24 11:30 AM BCB Focus Market Readout


Related Last Previous Unit Reference
Interest Rate 13.75 13.75 percent Sep 2022
Cash Reserve Ratio 21.00 21.00 percent Oct 2022
Money Supply M1 587940.38 596836.73 BRL Million Aug 2022
Money Supply M0 395354.59 389598.01 BRL Million Aug 2022
Money Supply M2 4723683.61 4681497.63 BRL Million Aug 2022
Money Supply M3 9443489.45 9316379.28 BRL Million Aug 2022
Foreign Exchange Reserves 339664.00 346403.00 USD Million Aug 2022
Banks Balance Sheet 9029325.66 9009474.71 BRL Million Dec 2021
Loans to Private Sector 699540.00 690160.00 BRL Million Aug 2022
Loan Growth 1.60 0.60 percent Aug 2022
Central Bank Balance Sheet 4288302000.00 4156955771.00 BRL Thousand Dec 2021

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 - 2022 percent Daily

News Stream
Brazil Central Bank Holds Rates Steady
The Central Bank of Brazil decided to keep the Selic rate steady at 13.75% on September 21st, 2022, as widely expected. Brazil's inflation eased further to 8.73% in August of 2022 from 10.07% 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.
2022-09-21
Brazil Hikes Interest Rate to 13.75% as Expected
The Central Bank of Brazil unanimously decided to lift the Selic rate by 50 bps to 13.75% on August 3rd 2022, as expected. It was the 12th consecutive interest rate hike since it started tightening in March of 2021, to fight soaring inflation. Brazil’s inflation rose to 11.89% in June of 2022 from 11.73% in the prior month, marking the 10th consecutive month of double-digit inflation and the second highest figure since 2003. Policymakers said the decision reflects the uncertainty around its scenarios for prospective inflation, an even higher-than-usual variance in the balance of risks and is consistent with the strategy for inflation convergence to a level around its target throughout the relevant horizon for monetary policy, which includes 2023 and, to a lesser extent, 2024. With regard to forward guidance, the Committee said will evaluate the need for another hike of smaller magnitude at its next meeting in September.
2022-08-03
Brazil Lifts Interest Rate to 13.25% as Expected
The Central Bank of Brazil unanimously decided to increase the Selic rate by 50bps to 13.25% on June 15th 2022, as expected, bringing borrowing costs to the highest since December of 2016. It was the 11th consecutive interest rate hike since it started tightening in March of 2021, to combat persistent inflation. Brazil’s inflation slowed in May from April and from a year earlier, but the annual rate was still well above the central bank’s target of 3.5% at 11.73%. Policymakers judged that this decision reflects the uncertainty around its scenarios for prospective inflation, an even higher-than-usual variance in the balance of risks and is consistent with the strategy for inflation convergence to a level around its target throughout the relevant horizon for monetary policy, which includes 2023. Meanwhile, recent economic data suggests a rate of growth above the Committee's expectations. For its next meeting, the Committee foresees another rate increase "of equal or lesser magnitude".
2022-06-15