Brazil Interest Rate  1999-2017 | Data | Chart | Calendar | Forecast

The Central Bank of Brazil cut its key Selic rate by 75 basis points to 12.25 percent on February 22nd 2017, in line with market expectations. It is the fourth straight rate decline, bringing borrowing costs to the lowest in nearly 2 years amid slowing inflation and a sticky contraction. It follows a 75bps cut in January. Interest Rate in Brazil averaged 15.61 percent from 1999 until 2017, reaching an all time high of 45 percent in March of 1999 and a record low of 7.25 percent in October of 2012.

Brazil Interest Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-11-30 08:40 PM Interest Rate Decision 13.75% 14% 13.75% 13.75%
2017-01-11 08:30 PM Interest Rate Decision 13% 13.75% 13.25% 13.25%
2017-02-22 09:20 PM Interest Rate Decision 12.25% 13% 12.25% 12.25%
2017-04-12 07:30 PM Interest Rate Decision 12.25% 12%
2017-05-31 07:30 PM Interest Rate Decision 12%
2017-07-26 09:00 PM Interest Rate Decision 11.5%




Brazil Lowers Benchmark Interest Rate To 12.25%


The Central Bank of Brazil cut its key Selic rate by 75 basis points to 12.25 percent on February 22nd 2017, in line with market expectations. It is the fourth straight rate decline, bringing borrowing costs to the lowest in nearly 2 years amid slowing inflation and a sticky contraction. It follows a 75bps cut in January.

Policymakers said that the global outlook remains quite uncertain and that inflation developments remain favorable. It also highlighted the importance of approval and implementation of reforms (notably, the fiscal) for the sustainability of disinflation and for the reduction of the structural interest rate. The Copom's inflation forecasts retreated to around 4.2 percent for 2017, and remained around 4.5 percent for 2018. This scenario assumes a path for the policy interest rate that ends 2017 and 2018 at 9.5 percent and 9 percent, respectively.

The central bank started its easing cycle in October last year after the inflation rate eased from double digits. Inflation slowed faster than expected in the past four months due to subdued economic activity and a stronger real. Yet, the inflation fell to 5.35 percent in January, the lowest since September of 2012 and the real has been appreciating since December, strengthening 11.3 percent against the USD since then. 

Still, the economic recovery could take even longer than initially expected: the IBC-Br index of economic activity fell 0.26 percent in December after rising by 0.1 percent in November, the most in six months. The manufacturing PMI fell to 44 in January, reaching the lowest in seven months. On the positive side, business and consumer confidence have improved so far this year. The median estimate in a central bank poll of economists points to a 0.48 percent growth in 2017. 

Mario | mario@tradingeconomics.com
2/24/2017 9:24:49 AM



Brazil Money Last Previous Highest Lowest Unit
Interest Rate 12.25 13.00 45.00 7.25 percent [+]
Cash Reserve Ratio 45.00 45.00 100.00 42.00 percent [+]
Money Supply M0 266325.00 262392.20 270287.15 0.00 BRL Million [+]
Money Supply M1 316898.03 310375.71 351148.12 0.00 BRL Million [+]
Money Supply M2 2315940.27 2369721.75 2369721.75 0.01 BRL Million [+]
Money Supply M3 5320374.91 5281596.60 5320374.91 0.01 BRL Million [+]
Foreign Exchange Reserves 368981.00 367708.00 379156.50 1187.00 USD Million [+]
Banks Balance Sheet 5827193.45 5822292.85 5978463.45 1174638.00 BRL Million [+]
Loans to Private Sector 784945.00 798326.00 875283.00 169316.00 BRL Million [+]
Deposit Interest Rate 12.62 10.02 9394.29 7.81 percent [+]
Loan Growth -1.00 0.10 3.68 -1.00 percent [+]
Central Bank Balance Sheet 3032128436.00 2945102386.00 3032128436.00 6.40 BRL Thousand [+]



Brazil Interest Rate Notes

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. Brazil Interest Rate - actual data, historical chart and calendar of releases - was last updated on March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
12.25 13.00 45.00 7.25 1999 - 2017 percent Daily



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