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

The benchmark interest rate in Brazil was last recorded at 11.25 percent. Interest Rate in Brazil averaged 15.82 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
11.25 11.00 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 Wednesday, November 26, 2014.


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.

The decision was quite unexpected. Policymakers said recent price adjustments increased inflationary risks, making it appropriate to adjust monetary conditions to ensure a more benign inflation outlook for 2015 and 2016. Yet, three members of the Monetary Policy Comittee known as Copom voted to leave the Selic rate on hold at 11 percent.

In September, annual inflation rate accelerated to 6.75 percent, touching the highest level in three years and staying above the upper limit of the central bank's target of 4.5 percent with two-point tolerance range for the first time in fifteen months. Consumer prices have been on an upward trend since the beginning of the year due to increase in consumer demand, wage growth and the depreciation of the real which fell more than 10 percent against the US dollar since September.
 
Amid inflation concerns, the economic outlook remains weak. Industrial production contracted for the sixth consecutive month by 5.4 percent in August compared with the same month a year earlier and retail sales shrank by 1.1 percent. In September, the country posted its first trade deficit in seven months as a weak real raised imports cost. In its September Inflation Report, the central bank cut the GDP growth forecast by 20 bps to 0.7 percent in 2014.
   

Carolina Cunha | carolina.cunha@tradingeconomics.com
10/29/2014 11:04:40 PM


Recent Releases

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

Brazil Cuts Reserve Requirement to Boost Credit
Brazil’s central bank decided on August 20th to cut reserve requirements on term deposits, aiming to increase lending to the economy. Published on 2014-08-20


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-07-17 12:15 AM
Interest Rate Decision 
11% 11.0% 11% 11%
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 09:00 PM
Interest Rate Decision 
11.25% 11%


Brazil Money Last Previous Highest Lowest Unit
Interest Rate 11.25 11.00 45.00 7.25 percent [+]
Money Supply M0 231028.33 238409.38 249509.78 0.00 BRL Million [+]
Money Supply M1 312267.20 311514.53 344842.52 0.00 BRL Million [+]
Money Supply M2 2057233.39 2048089.76 2057233.39 0.01 BRL Million [+]
Money Supply M3 4189476.59 4159877.69 4189476.59 0.01 BRL Million [+]
Foreign Exchange Reserves 375833.00 375513.40 379157.00 1187.00 USD Million [+]
Loans to Private Sector 2716186.00 2687000.00 2716186.00 0.00 BRL Million [+]
Banks Balance Sheet 964.21 743.04 964.21 5.84 BRL Million [+]
Central Bank Balance Sheet 2030657674.00 1938080657.00 2030657674.00 6.40 BRL Thousand [+]


Interest Rate Reference Previous Highest Lowest Unit
Australia 2.50 Nov/14 2.50 17.50 2.50 percent [+]
Brazil 11.25 Oct/14 11.00 45.00 7.25 percent [+]
Canada 1.00 Oct/14 1.00 16.00 0.25 percent [+]
China 5.60 Nov/14 6.00 10.98 5.31 percent [+]
Euro Area 0.05 Nov/14 0.05 4.75 0.05 percent [+]
France 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Germany 0.05 Nov/14 0.05 4.75 0.05 percent [+]
India 8.00 Oct/14 8.00 14.50 4.25 percent [+]
Indonesia 7.75 Nov/14 7.50 12.75 5.75 percent [+]
Italy 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Japan 0.00 Nov/14 0.00 9.00 0.00 percent [+]
Mexico 3.00 Oct/14 3.00 9.25 3.00 percent [+]
Netherlands 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Russia 9.50 Oct/14 8.00 10.50 5.00 percent [+]
South Korea 2.00 Nov/14 2.00 5.25 2.00 percent [+]
Spain 0.05 Nov/14 0.05 4.75 0.05 percent [+]
Switzerland 0.00 Oct/14 0.00 3.50 0.00 percent [+]
Turkey 8.25 Nov/14 8.25 500.00 4.50 percent [+]
United Kingdom 0.50 Nov/14 0.50 17.00 0.50 percent [+]
United States 0.25 Oct/14 0.25 20.00 0.25 percent [+]