Brazil Interest Rate  1999-2017 | Data | Chart | Calendar | Forecast

The Central Bank of Brazil unanimously cut its key Selic rate by 100 basis points to 8.25 percent on September 6th of 2017, as widely anticipated. It was the eighth straight rate decline, bringing borrowing costs to the lowest since 2013 amid slowing inflation and a sticky contraction. The decision was unanimous and no bias was adopted. It follows a 100 bps cut in the July 26th of 2017 meeting. Interest Rate in Brazil averaged 15.50 percent from 1999 until 2017, reaching an all time high of 45 percent in March of 1999 and a record low of 7.25 percent in October of 2012.

Brazil Interest Rate
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Brazil Trims Key Rate by 100 Bps to 8.25%


The Central Bank of Brazil unanimously cut its key Selic rate by 100 basis points to 8.25 percent on September 6th of 2017, as widely anticipated. It was the eighth straight rate decline, bringing borrowing costs to the lowest since 2013 amid slowing inflation and a sticky contraction. The decision was unanimous and no bias was adopted. It follows a 100 bps cut in the July 26th of 2017 meeting.

The statement underscored that economic activity remains consistent with a gradual recovery of the Brazilian economy; that the global outlook has been favorable; and that inflation developments remain favorable, with various indicators running at low levels. The Committee judged that economic conditions prescribe accommodative policy, with economic reforms contributing to the reduction of the structural interest rate. Regarding the next meeting, the Copom views a moderate reduction of the pace of easing as appropriate.

The central bank started its easing cycle in October last year after the inflation rate eased from double digits. Inflation slowed faster than expected in the past seven months due to subdued economic activity and a stronger real. Consumer prices in Brazil increased 2.46 percent year-on-year in August of 2017, slowing from a 2.71 percent rise in July and below market expectations of 2.6 percent. The inflation rate eased for the 12th consecutive month to a new low since February of 1999. It is also the lowest rate for an August month since at least 1980 as a record harvest dragged down food prices.

The economic recovery is still taking longer than initially expected, albeit recent improvements seen lately. Auto production in Brazil jumped 15.4 percent to 260.3 thousand vehicles in August of 2017 from a revised 225.5 thousand in the previous month. It is the strongest increase in car production since May. Also, consumer confidence rose to 101.6 in August 2017 from 99.5 in the previous month. It is the strongest reading since April, as consumers are more upbeat about financial situation, less indebted and more likely to do major purchases.

The median estimate in a central bank poll of economists currently points to growth of 0.50 percent in 2017 (vs 0.34 percent back in July of 2017) and 2.00 percent in 2018 (unchanged from July). Analysts expect the Selic rate to end 2017 at 7.25 (vs 7.50 percent).

Mario | mario@tradingeconomics.com
9/7/2017 8:26:11 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-05-31 09:00 PM Interest Rate Decision 10.25% 11.25% 10.25% 10.25%
2017-07-26 09:00 PM Interest Rate Decision 9.25% 10.25% 9.25% 9.25%
2017-09-06 09:00 PM Interest Rate Decision 8.25% 9.25% 8.25% 8.25%
2017-10-25 08:00 PM Interest Rate Decision 8.25% 7.75%
2017-12-06 08:00 PM Interest Rate Decision 7.5%


Brazil Money Last Previous Highest Lowest Unit
Interest Rate 8.25 9.25 45.00 7.25 percent [+]
Cash Reserve Ratio 45.00 45.00 100.00 42.00 percent [+]
Money Supply M0 252160.31 255860.26 270287.15 0.00 BRL Million [+]
Money Supply M1 309505.43 314687.69 351148.12 0.00 BRL Million [+]
Money Supply M2 2397357.61 2393014.91 2397357.61 0.01 BRL Million [+]
Money Supply M3 5557672.08 5497325.88 5557672.08 0.01 BRL Million [+]
Foreign Exchange Reserves 381843.00 381029.00 381843.00 1187.00 USD Million [+]
Banks Balance Sheet 5715530.53 5841315.34 5978463.45 1174638.00 BRL Million [+]
Loans to Private Sector 764910.00 769432.00 875283.00 169316.00 BRL Million [+]
Deposit Interest Rate 12.40 12.62 9394.29 7.81 percent [+]
Loan Growth -0.60 0.40 3.68 -1.01 percent [+]
Central Bank Balance Sheet 3053913469.00 3017308939.00 3053913469.00 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
8.25 9.25 45.00 7.25 1999 - 2017 percent Daily




interest rate by Country

Last
Russia 8.50 Sep/17
Brazil 8.25 Sep/17
Turkey 8.00 Sep/17
Mexico 7.00 Aug/17
India 6.00 Aug/17
China 4.35 Aug/17
Indonesia 4.25 Sep/17
Australia 1.50 Sep/17
South Korea 1.25 Aug/17
United States 1.25 Sep/17
Canada 1.00 Sep/17
United Kingdom 0.25 Sep/17
Euro Area 0.00 Sep/17
France 0.00 Sep/17
Germany 0.00 Sep/17
Italy 0.00 Sep/17
Netherlands 0.00 Sep/17
Spain 0.00 Sep/17
Japan -0.10 Sep/17
Switzerland -0.75 Sep/17