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

The Central Bank of Brazil increased its key interest rate by 50bps to 14.25 percent on July 29th, the highest level since October 2006. It was the seventh consecutive hike as the country struggles to deal with the persistent rise in consumer prices. 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.

Brazil Interest Rate
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Actual Previous Highest Lowest Dates Unit Frequency
14.25 13.75 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 Sunday, August 30, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2015-07-30 01:05 AM 14.25% 13.75% 14.25% 14.25%
2015-09-02 10:00 PM 14.25% 14.25% 14.25%
2015-10-21 10:00 PM 14.25%
2015-11-25 10:00 PM 14.25%


Brazil Raises SELIC Rate to 14.25%


The Central Bank of Brazil increased its key interest rate by 50bps to 14.25 percent on July 29th, the highest level since October 2006. It was the seventh consecutive hike as the country struggles to deal with the persistent rise in consumer prices.

The decision was expected by markets as inflation accelerated for the sixth straight month in June to a new 11-1/2-year high of 8.89 percent; and remained high at 9.25 percent in the month to mid-July.

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 325 basis points in an attempt to convince the markets it is committed in bringing inflation back to target.

The government announced last week it would not meet the 1.1 primary fiscal surplus target for 2015 and the goal was changed to cut public spending by 0.15 percent of GDP, leading markets to doubt the government's ability to further implement fiscal austerity in order to fight the growing inflation and to balance public finances. Even so, Brazil's Finance Ministry said on Tuesday, after S&P consider to decline the country's credit rating, it will remain committed to the austerity measures, a move that will deepen the economy's contraction.

At the latest FOCUS Market Readout released on July 24th by the Central Bank, analysts from about 100 private financial institutions expected Brazil's economy to contract by 1.76 percent in 2015 (against a 1.70 percent contraction estimated a week earlier); annual inflation to grow 9.23 percent (against 9.15 percent); and industrial production to decline by 5 percent (the same estimate from a week earlier); unveiling the worst economic performance since 1990.

The Brazilian real has slipped 26 percent this year against the U.S. dollar, hitting its weakest level in more than 12 years on July 29th.

Joana Ferreira | joana.ferreira@tradingeconomics.com
7/30/2015 1:09:52 AM


Recent Releases

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.
Published on 2015-06-04

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 Money Last Previous Highest Lowest Unit
Interest Rate 14.25 13.75 45.00 7.25 percent [+]
Money Supply M0 225062.84 231958.72 263528.52 0.00 BRL Million [+]
Money Supply M1 298414.40 304256.24 351148.12 0.00 BRL Million [+]
Money Supply M2 2148222.02 2150248.54 2150248.54 0.01 BRL Million [+]
Money Supply M3 4494940.48 4476179.61 4494940.48 0.01 BRL Million [+]
Foreign Exchange Reserves 368252.00 368668.00 379156.50 1187.00 USD Million [+]
Loans to Private Sector 840878.00 832665.00 840878.00 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 2330020417.00 2408656969.00 2438774257.00 6.40 BRL Thousand [+]
Loan Growth 0.60 0.70 2.06 -0.16 percent [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.00 Aug/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Jul/15 13.75 45.00 7.25 percent [+]
Canada 0.50 Jul/15 0.75 16.00 0.25 percent [+]
China 4.60 Aug/15 4.85 10.98 4.60 percent [+]
Euro Area 0.05 Jul/15 0.05 4.75 0.05 percent [+]
India 7.25 Aug/15 7.25 14.50 4.25 percent [+]
Indonesia 7.50 Aug/15 7.50 12.75 5.75 percent [+]
Japan 0.00 Aug/15 0.00 9.00 0.00 percent [+]
Mexico 3.00 Jul/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Jul/15 11.50 17.00 5.00 percent [+]
South Korea 1.50 Aug/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Jun/15 -0.75 3.50 -0.75 percent [+]
Turkey 7.50 Aug/15 7.50 500.00 4.50 percent [+]
United Kingdom 0.50 Aug/15 0.50 17.00 0.50 percent [+]
United States 0.25 Jul/15 0.25 20.00 0.25 percent [+]