Brazil Interest Rate 1999-2015 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Brazil was last recorded at 12.25 percent. Interest Rate in Brazil averaged 15.77 percent from 1999 until 2015, reaching an all time high of 45 percent in March of 1999 and a record low of 7.25 percent in October of 2012. Interest Rate in Brazil is reported by the Banco Central do Brasil.

      Forecast    
Brazil Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
12.25 11.75 45.00 7.25 1999 - 2015 percent Daily
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. This page provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Content for - Brazil Interest Rate - was last refreshed on Saturday, January 31, 2015.


Brazil Raises SELIC Rate to 12.25%


Brazil increased its key interest rate by 50bps to 12.25% on January 21st. It is the third consecutive hike, aiming to curb stubbornly high inflation and bringing the rate to its highest level since mid-2011.

Policymakers started a tightening campaign in April of 2014 and raised the SELIC rate 12 times since then by a total 500 bps. The inflation rate has been above the official target range since June of 2014, but in December it slowed to 6.41 percent. The central bank targets inflation at 4.5 percent with a two percentage points tolerance.

Yet, consumer prices are expected to increase even further this year despite recent drop in oil prices. This week, the finance minister said the government will raise taxes on fuel, imports, credit and cosmetics in 2015, aiming to narrow the budget deficit and restore confidence among investors. The government expects the revenue to increase by BRL 20.6 billion: BRL 12.2 billion from fuel taxes; BRL 7.4 billion from personal loan taxes; BRL 0.694 billion from imports and BRL 0.38 billion from cosmetics. Higher taxes are expected to hurt consumption and lower growth.

Joana Taborda
1/21/2015 10:33:26 PM


Recent Releases

Brazil Raises SELIC Rate to 11.75%
The Central Bank of Brazil decided to raise the benchmark interest rate by half a point to 11.75 percent on December 3rd amid high inflation, low economic growth and falling currency. Published on 2014-12-04

Brazil Raises Selic Rate to 11.25%
The Central Bank of Brazil decided to raise the benchmark interest rate by 25 bps to 11.25 percent on October 29th. It is the fourth rate hike in 2014 aiming to curb stubbornly high inflation. Published on 2014-10-29


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-10-29 10:30 PM
Interest Rate Decision 
11.25% 11% 11% 11%
2014-12-03 10:30 PM
Interest Rate Decision 
11.75% 11.25% 11.5% 11.75%
2015-01-21 09:30 PM
Interest Rate Decision 
12.25% 11.75% 12.25% 12.25%
2015-03-04 10:00 PM
Interest Rate Decision 
12.75%
2015-04-29 10:00 PM
Interest Rate Decision 
11.75%
2015-06-03 10:00 PM
Interest Rate Decision 
13%


Brazil Money Last Previous Highest Lowest Unit
Interest Rate 12.25 11.75 45.00 7.25 percent [+]
Money Supply M0 263528.52 241625.56 263528.52 0.00 BRL Million [+]
Money Supply M1 351148.12 326194.51 351148.12 0.00 BRL Million [+]
Money Supply M2 2139997.96 2100358.10 2139997.96 0.01 BRL Million [+]
Money Supply M3 4310584.63 4275027.86 4310584.63 0.01 BRL Million [+]
Foreign Exchange Reserves 363551.00 375426.20 379156.50 1187.00 USD Million [+]
Loans to Private Sector 2825607.00 2771597.00 2825607.00 0.00 BRL Million [+]
Banks Balance Sheet 964.21 743.04 964.21 5.84 BRL Million [+]
Central Bank Balance Sheet 2100770412.00 2035443734.00 2100770412.00 6.40 BRL Thousand [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Dec/14 2.50 17.50 2.50 percent [+]
Brazil 12.25 Jan/15 11.75 45.00 7.25 percent [+]
Canada 0.75 Jan/15 1.00 16.00 0.25 percent [+]
China 5.60 Dec/14 5.60 10.98 5.31 percent [+]
Euro Area 0.05 Jan/15 0.05 4.75 0.05 percent [+]
France 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Germany 0.05 Jan/15 0.05 4.75 0.05 percent [+]
India 7.75 Jan/15 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Jan/15 7.75 12.75 5.75 percent [+]
Italy 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Japan 0.00 Jan/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jan/15 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Russia 15.00 Jan/15 17.00 17.00 5.00 percent [+]
South Korea 2.00 Jan/15 2.00 5.25 2.00 percent [+]
Spain 0.05 Jan/15 0.05 4.75 0.05 percent [+]
Switzerland -0.75 Jan/15 -0.25 3.50 -0.75 percent [+]
Turkey 7.75 Jan/15 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Aug/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jan/15 0.25 20.00 0.25 percent [+]