Brazil Interest Rate  1999-2018 | Data | Chart | Calendar | Forecast

The Central Bank of Brazil cut its key Selic rate by 25 basis points to 6.50 percent on 21 March 2018 following a 25-bps slash on 7 February 2018. The cut, widely anticipated and unanimous, was the eleventh straight, bringing borrowing costs to the lowest in modern history amid below-target inflation and a gradually improving economy. Regarding the next meeting, policymakers view an additional moderate monetary easing as appropriate. The Committee judges that this additional stimulus mitigates the risk of delayed convergence of inflation toward the targets. Consumer prices in Brazil increased 2.84 percent year-on-year in February of 2018, barely unchanged form 2.86 percent in January and market expectations of 2.85 percent. It was the lowest inflation rate for a February month since 1999. Interest Rate in Brazil averaged 15.32 percent from 1999 until 2018, reaching an all time high of 45 percent in March of 1999 and a record low of 6.50 percent in March of 2018.

Brazil Interest Rate
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Brazil Cuts Interest Rate Further


The Central Bank of Brazil cut its key Selic rate by 25 basis points to 6.50 percent on 21 March 2018 following a 25-bps slash on 7 February 2018. The cut, widely anticipated and unanimous, was the eleventh straight, bringing borrowing costs to the lowest in modern history amid below-target inflation and a gradually improving economy. 

The statement underscored that set of indicators of economic activity released since the last Copom meeting shows consistent recovery of the Brazilian economy. It also mentioned inflation developments remain favorable. With these input, the Committee judged that economic conditions prescribe accommodative monetary policy, i.e., interest rates below the structural level. Regarding the next meeting, policymakers view an additional moderate monetary easing as appropriate. The Committee judges that this additional stimulus mitigates the risk of delayed convergence of inflation toward the targets.

The central bank started its easing cycle in October of 2016 after the inflation rate eased from double digits. Consumer prices in Brazil increased 2.84 percent year-on-year in February of 2018, barely unchanged form 2.86 percent in January and market expectations of 2.85 percent. It was the lowest inflation rate for a February month since 1999.

The economic recovery is still taking longer than initially expected, albeit improvements are now visible. Industrial production rose 5.7 percent year-on-year in January and has booked positive numbers for the last nine months. Meantime, auto production rose 15 percent to 432 thousand units in the first two months of 2018.

The median estimate in the last central bank poll of economists (16 March 2018) currently points to growth of 2.83 percent for 2018 (vs 2.80 percent four weeks ago) and of 3.00 percent for 2019 (unchanged). Analysts expect the Selic rate to end 2018 at 6.50 percent (vs 6.75 percent). 


Mario | mario@tradingeconomics.com
3/21/2018 9:10:14 PM



Calendar GMT Actual Previous Consensus TEForecast
2017-12-06 08:20 PM Interest Rate Decision 7.0% 7.50% 7% 7%
2018-02-07 08:20 PM Interest Rate Decision 6.75% 7% 6.75% 6.75%
2018-03-21 09:00 PM Interest Rate Decision 6.50% 6.75% 6.5% 6.75%
2018-05-16 09:00 PM Interest Rate Decision 6.50% 6.5%
2018-06-20 09:00 PM Interest Rate Decision 6.5%
2018-08-01 09:00 PM Interest Rate Decision 6.5%


Brazil Money Last Previous Highest Lowest Unit
Interest Rate 6.50 6.75 45.00 6.50 percent [+]
Cash Reserve Ratio 45.00 45.00 100.00 42.00 percent [+]
Money Supply M0 275056.18 264517.03 296755.46 0.00 BRL Million [+]
Money Supply M1 330604.94 326539.53 363025.90 0.00 BRL Million [+]
Money Supply M2 2455791.49 2447670.43 2481226.74 0.01 BRL Million [+]
Money Supply M3 5856815.13 5813807.69 5856815.13 0.01 BRL Million [+]
Foreign Exchange Reserves 379577.00 377035.00 381843.00 1187.00 USD Million [+]
Banks Balance Sheet 5920108.90 5859139.10 6004329.00 1174638.70 BRL Million [+]
Loans to Private Sector 691094.00 698000.00 875284.00 169316.00 BRL Million [+]
Deposit Interest Rate 12.40 12.62 9394.29 7.81 percent [+]
Loan Growth -0.20 -0.80 3.68 -1.01 percent [+]
Central Bank Balance Sheet 3175996667.00 3164861703.00 3175996667.00 6.40 BRL Thousand [+]


Brazil Interest Rate

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. Brazil Interest Rate - actual data, historical chart and calendar of releases - was last updated on April of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6.50 6.75 45.00 6.50 1999 - 2018 percent Daily




interest rate by Country
Country Last
Turkey 8.00 Mar/18
Mexico 7.50 Apr/18
Russia 7.25 Mar/18
Brazil 6.50 Mar/18
India 6.00 Apr/18
China 4.35 Mar/18
Indonesia 4.25 Apr/18
United States 1.75 Mar/18
Australia 1.50 Apr/18
South Korea 1.50 Apr/18
Canada 1.25 Apr/18
United Kingdom 0.50 Mar/18
Euro Area 0.00 Mar/18
France 0.00 Mar/18
Germany 0.00 Mar/18
Italy 0.00 Mar/18
Netherlands 0.00 Mar/18
Spain 0.00 Mar/18
Japan -0.10 Mar/18
Switzerland -0.75 Mar/18


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