Brazil Interest Rate 1999-2014 | Data | Chart | Calendar | Forecast

The benchmark interest rate in Brazil was last recorded at 11.75 percent. Interest Rate in Brazil averaged 15.79 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. Interest Rate in Brazil is reported by the Banco Central do Brasil.

      Forecast    
Brazil Interest Rate


Actual Previous Highest Lowest Dates Unit Frequency
11.75 11.25 45.00 7.25 1999 - 2014 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 Friday, December 19, 2014.


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.

A rate hike was expected by markets as last meeting minutes showed the central bank remains especially cautious in fighting persistently high inflation.

The inflation rate has been above the official target range (4.5 percent with a two percentage points tolerance) since June of 2014 due to an increase in consumer and government spending, wage growth and the depreciation of the real. In an attempt to curb it, the central bank has already increased the benchmark interest rate five times this year.

On November 27th, the re-elected President announced her new economic team: Joaquim Levy, a former Treasury secretary, will be the new finance minister; Nelson Barbosa will be the planning minister and Alexandre Tombini will remain as president of the Central Bank.

Joaquim Levy is known for his liberal and austere policies, earning the nickname of “scissor hands”. During his position as treasury secretary in the former president Lula da Silva’s first term, he managed to bring the budget to a surplus by controlling public expenses. Levy assured he has autonomy to implement the necessary changes and intents to reduce the budget deficit (before interest payments) to 1.2 percent of GDP in 2015 from previously projected 1.9 percent.

Carolina Cunha | carolina.cunha@tradingeconomics.com
12/4/2014 11:11:30 AM


Recent Releases

Brazil Raises Selic Rate to 11.25%
The Central Bank of Brazil decided to raise the benchmark interest rate by 25 bps to 11.25 percent on October 29th. It is the fourth rate hike in 2014 aiming to curb stubbornly high inflation. Published on 2014-10-29

Brazil Leaves Monetary Policy Unchanged
At its September meeting, Central Bank of Brazil decided to leave its key selic rate steady at 11 percent as widely expected. Published on 2014-09-03


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-03 11:30 PM
Interest Rate Decision 
11% 11% 11% 11%
2014-10-29 10:30 PM
Interest Rate Decision 
11.25% 11% 11% 11%
2014-12-03 10:30 PM
Interest Rate Decision 
11.75% 11.25% 11.5% 11.75%
2015-01-21 10:00 PM
Interest Rate Decision 
11.75%
2015-03-04 10:00 PM
Interest Rate Decision 
11.75%
2015-04-29 10:00 PM
Interest Rate Decision 
11.75%


Brazil Money Last Previous Highest Lowest Unit
Interest Rate 11.75 11.25 45.00 7.25 percent [+]
Money Supply M0 241625.56 231028.33 249509.78 0.00 BRL Million [+]
Money Supply M1 326194.51 312267.20 344842.52 0.00 BRL Million [+]
Money Supply M2 2071930.80 2057233.39 2071930.80 0.01 BRL Million [+]
Money Supply M3 4226158.65 4189476.59 4226158.65 0.01 BRL Million [+]
Foreign Exchange Reserves 375426.00 375833.00 379157.00 1187.00 USD Million [+]
Loans to Private Sector 2738739.00 2716186.00 2926000.00 0.00 BRL Million [+]
Banks Balance Sheet 964.21 743.04 964.21 5.84 BRL Million [+]
Central Bank Balance Sheet 2035443734.00 2030657674.00 2035443734.00 6.40 BRL Thousand [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Dec/14 2.50 17.50 2.50 percent [+]
Brazil 11.75 Dec/14 11.25 45.00 7.25 percent [+]
Canada 1.00 Dec/14 1.00 16.00 0.25 percent [+]
China 5.60 Nov/14 6.00 10.98 5.31 percent [+]
Euro Area 0.05 Dec/14 0.05 4.75 0.05 percent [+]
France 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Germany 0.05 Dec/14 0.05 4.75 0.05 percent [+]
India 8.00 Dec/14 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Dec/14 7.75 12.75 5.75 percent [+]
Italy 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Japan 0.00 Dec/14 0.00 9.00 0.00 percent [+]
Mexico 3.00 Dec/14 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Russia 17.00 Dec/14 9.50 17.00 5.00 percent [+]
South Korea 2.00 Dec/14 2.00 5.25 2.00 percent [+]
Spain 0.05 Dec/14 0.05 4.75 0.05 percent [+]
Switzerland -0.25 Dec/14 0.00 3.50 -0.25 percent [+]
Turkey 8.25 Nov/14 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Dec/14 0.50 17.00 0.50 percent [+]
United States 0.25 Dec/14 0.25 20.00 0.25 percent [+]