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

The Central Bank of Brazil kept its key interest rate unchanged on September 2nd, after seven consecutive hikes in an attempt to curb the climbing inflation. It remained at its highest level in nine years, as policymakers struggle to prevent consumer prices growth amid economic shrinkage. Interest Rate in Brazil averaged 15.71 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
Please Paste this Code in your Website

Actual Previous Highest Lowest Dates Unit Frequency
14.25 14.25 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 Saturday, September 5, 2015.


Calendar GMT Reference Actual Previous Consensus Forecast (i)
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%
2015-09-03 12:30 AM 14.25% 14.25% 14.25% 14.25%
2015-10-21 10:00 PM 14.25% 14.25%
2015-11-25 10:00 PM 14.25%


Brazil Holds SELIC Rate at 14.25% in September


The Central Bank of Brazil kept its key interest rate unchanged on September 2nd, after seven consecutive hikes in an attempt to curb rising inflation. The SELIC rate remained at its highest level in nine years, as policymakers struggle to prevent consumer prices growth amid economic contraction.

The decision was expected by markets, as the nation is heading for its worst recession in 25 years and previous rate hikes have not prevented a rise in inflation, which in July reached a 12-year high of 9.56 percent, way above its self-imposed upper limit of 6.5 percent. Also, latest data showed that through mid-August the inflation was recorded at 9.57 percent. 

Brazilian economy contracted sharply by 1.9 percent on quarter and by 2.6 percent year-on-year in the April-June period, due to a slump in private consumption and investment. In addition, unemployment rate jumped to 7.5 percent in July, the highest since May of 2010; and industrial production dropped by 8.9 percent year-on-year in July, 17th straight month of decline. Meanwhile, the Brazilian real has slipped more than 28 percent against the U.S. dollar this year, hitting its lowest level in nearly 13 years.

SELIC hike campaign was initiated last September when inflation reached 6.5 percent. Since then, the central bank has raised the rate by 325 basis points in an attempt to convince the markets it is committed to the inflation target.

At the latest FOCUS Market Readout released by the Central Bank on August 28th, analysts from about 100 private financial institutions said that they were expecting Brazil's economy to contract by 2.26 percent in 2015 (against a 2.06 percent contraction estimated last week); annual inflation to grow to 9.28 percent (against 9.29 percent last week); and industrial production to decline by 5.57 percent (against a 5.20 percent shrinkage last week); unveiling the worst economic performance since 1990.

Joana Ferreira | joana.ferreira@tradingeconomics.com
9/3/2015 10:43:30 AM


Recent Releases

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.
Published on 2015-07-30

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 Money Last Previous Highest Lowest Unit
Interest Rate 14.25 14.25 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 Sep/15 2.00 17.50 2.00 percent [+]
Brazil 14.25 Sep/15 14.25 45.00 7.25 percent [+]
Canada 0.50 Aug/15 0.75 16.00 0.25 percent [+]
China 4.60 Aug/15 4.85 10.98 4.60 percent [+]
Euro Area 0.05 Sep/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 Aug/15 3.00 9.25 3.00 percent [+]
Russia 11.00 Aug/15 11.00 17.00 5.00 percent [+]
South Korea 1.50 Aug/15 1.50 5.25 1.50 percent [+]
Switzerland -0.75 Aug/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 Aug/15 0.25 20.00 0.25 percent [+]