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

The benchmark interest rate in Brazil was last recorded at 13.75 percent. Interest Rate in Brazil averaged 15.72 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.

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Brazil Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
13.75 13.25 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 Wednesday, July 29, 2015.

Calendar GMT Reference Actual Previous Consensus Forecast (i)
2015-03-04 11:05 PM 12.75% 12.25% 12.75% 12.75%
2015-04-29 11:50 PM 13.25% 12.75% 13.25% 13%
2015-06-04 12:15 AM 13.75% 13.25% 13.75% 13.25%
2015-07-29 11:00 PM 13.75% 14.25% 14.25%
2015-09-02 10:00 PM 14.25%
2015-10-21 10:00 PM 14.25%


Brazil Hikes SELIC Rate to 13.75%


The Central Bank of Brazil raised its key interest rate by 50bps to 13.75 percent on June 3rd, the highest level since December 2008. It is the sixth straight hike as policymakers voiced concern about growing inflation pressure.

The decision was expected by markets as inflation hit a twelve-year high of 8.17 percent in April. 

Rate hike campaign was initiated last September when inflation reached the upper-limit of official target range of 6.5 percent. Since then, the central bank raised the rate by 275 basis points in an attempt to convince the markets it is committed in bringing inflation back to target.

On the other side, businesses are against hikes as they belive high borrowing cost would weight on growth. In fact, Brazilian economy contracted by 1.6 percent year-on-year in the first quarter of 2015, the fourth consecutive time due to fall in domestic demand and investments. The economy is expected to contract between 1.0 and 1.2 percent this year, according to government and IMF projections.

Last week,  the bank surprisingly cut reserve requirements in an attempt to boost mortgages and agribusiness loans.

Joana Ferreira | joana.ferreira@tradingeconomics.com
6/4/2015 12:41:40 AM


Recent Releases

Brazil Raises Interest Rate to 6-Year High
Brazil increased its key interest rate by 50bps to 13.25 percent on April 29th. It is the fifth consecutive hike, bringing the rate to its highest level since 2009.
Published on 2015-05-11

Brazil Hikes Key Interest Rate to 12.75%
Brazil’s central bank raised the Selic rate to a six-year high of 12.75 percent on March 4th. The decision was widely expected in a wake of stubbornly high inflation.
Published on 2015-03-05

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.
Published on 2015-01-21

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 Money Last Previous Highest Lowest Unit
Interest Rate 13.75 13.25 45.00 7.25 percent [+]
Money Supply M0 231958.72 239513.46 263528.52 0.00 BRL Million [+]
Money Supply M1 304256.24 304345.42 351148.12 0.00 BRL Million [+]
Money Supply M2 2150248.54 2133393.16 2150248.54 0.01 BRL Million [+]
Money Supply M3 4476179.61 4460048.41 4476179.61 0.01 BRL Million [+]
Foreign Exchange Reserves 368668.00 366646.70 379156.50 1187.00 USD Million [+]
Loans to Private Sector 832702.00 824993.00 832702.00 169316.00 BRL Million [+]
Banks Balance Sheet 5473281.20 5300035.30 5473281.20 1174638.00 BRL Million [+]
Cash Reserve Ratio 45.00 45.00 100.00 42.00 Percent [+]
Central Bank Balance Sheet 2408656969.00 2319105799.00 2438774257.00 6.40 BRL Thousand [+]
Loan Growth 0.70 0.10 2.06 -0.16 percent [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Jul/15 2.00 17.50 2.00 percent [+]
Brazil 13.75 Jun/15 13.25 45.00 7.25 percent [+]
Canada 0.50 Jul/15 0.75 16.00 0.25 percent [+]
China 4.85 Jun/15 5.10 10.98 4.85 percent [+]
Euro Area 0.05 Jul/15 0.05 4.75 0.05 percent [+]
India 7.25 Jun/15 7.50 14.50 4.25 percent [+]
Indonesia 7.50 Jul/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Jul/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jun/15 3.00 9.25 3.00 percent [+]
Russia 11.50 Jun/15 12.50 17.00 5.00 percent [+]
South Korea 1.50 Jul/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Jul/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Jul/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jun/15 0.25 20.00 0.25 percent [+]