Brazil Interest Rate

The benchmark interest rate in Brazil was last recorded at 11 percent. Interest Rate in Brazil is reported by the Banco Central do Brasil. Interest Rate in Brazil averaged 15.93 Percent from 1999 until 2014, reaching an all time high of 45 Percent in March of 1999 and a record low of 7.25 Percent in October of 2012. 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. 2014-04-24

Actual Previous Highest Lowest Forecast Dates Unit Frequency
11.00 10.75 45.00 7.25 10.75 | 2014/05 1999 - 2014 Percent Monthly

TO

Brazil Interest Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-11-27 10:20 PM Brazil
Interest Rate Decision
10.0% 9.5% 10.0% 9.75%
2014-01-15 10:10 PM Brazil
Interest Rate Decision
10.5% 10.0% 10.25% 10.5%
2014-02-26 11:00 PM Brazil
Interest Rate Decision
10.75% 10.5% 10.75% 10.75%
2014-04-03 12:00 AM Brazil
Interest Rate Decision
11.0% 10.75% 11.0% 11.0%
2014-05-28 07:00 PM Brazil
Interest Rate Decision
11.0% 10.75%
2014-07-16 07:00 PM Brazil
Interest Rate Decision
11%
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Money Last Previous Highest Lowest Forecast Unit
Foreign Exchange Reserves 363914.00 2014-03-31 362691.00 378725.70 1187.00 364351.31 2014-04-30 USD Million [+]
Loans to Private Sector 2574912.00 2014-02-28 2562660.00 2574912.00 0.01 2605203.20 2014-03-31 BRL Million [+]
Money Supply M0 228014.05 2014-03-31 224671.13 249509.78 0.00 224830.24 2014-04-30 BRL Million [+]
Money Supply M1 309268.57 2014-03-31 315425.64 344842.52 0.00 304740.58 2014-04-30 BRL Million [+]
Money Supply M2 1938501.72 2014-02-28 1928385.60 1953196.87 0.01 1962060.73 2014-03-31 BRL Million [+]
Money Supply M3 3831147.52 2014-02-28 3818491.23 3831147.52 0.01 3851541.23 2014-03-31 BRL Million [+]
Interest Rate 11.00 2014-04-02 10.75 45.00 7.25 10.75 2014-05-31 Percent [+]
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Brazil Raises Selic Rate to 11%

At its April 2nd, 2014 meeting, the Central Bank of Brazil raised the benchmark interest rate by 25 bps to 11 percent, as widely expected, after a surge in food prices.

The central bank said the decision was unanimous.

At its February meeting, policymakers signalled that monetary tightening was nearly done, but a severe drought in the country’s southeast raised food prices.

In February of 2014, Brazilian annual inflation rate accelerated to 5.68 percent from 5.59 percent in the previous month. In the twelve months to mid-March, higher food cost pushed consumer prices up to 5.90 percent.

Last week, Brazil's central bank increased its forecast for inflation in 2014 to 6.1 percent from a previous estimate of 5.6 percent. It forecasts GDP growth to be 2 percent in 2014.

The Copom also said it will monitor the evolution of the macroeconomic scenario until its next meeting, to then define the next steps in its monetary policy strategy.

Joana Taborda | joana.taborda@tradingeconomics.com
4/3/2014 12:10:28 AM

RECENT RELEASES

Brazil Raises Interest Rate to 10.75%
At its February 26th, 2014 meeting, Central Bank of Brazil decided to raise the benchmark interest rate for the second straight time by 25 bps to 10.75 percent, as widely expected. Published on 2014-02-27

Brazil Raises Selic Rate to 10.5%
The Monetary Policy Committee of the Central Bank of Brazil decided on January 15th to raise the benchmark interest rate by a larger-than-expected 50 bps to 10.5 percent. It is the seventh straight rate hike aimed at curbing inflation. Published on 2014-01-16


Interest Rate | Notes
The interest rate shown on this page refers to the central bank benchmark interest rate. Usually, the central bank benchmark interest rate is the overnight rate at which central banks make loans to the commercial banks under their jurisdiction. Moving the benchmark interest rate, the central bank is able to make an impact on interest rates of commercial banks, inflation level of the country and national currency exchange rate. Reduction of interest rates should bring increase in business activity, a rise in inflation rate and weakening of national currency. In case of increase in interest rates the level of business activity is likely to drop, inflation declines and national currency strengthens.


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