The Central Bank of Brazil announced its sixth interest rate hike in 2021 and the biggest in almost two decades at its October meeting, raising the Selic rate by 150 basis points to 7.75%, against markets estimates of a 100 bps increase. The Committee said that recent questioning regarding the fiscal framework increased the risk of deanchoring inflation expectations and this pace is the most appropriate to guarantee inflation convergence to the targets at the relevant horizon, which includes 2022 and 2023. Policymakers foresee an adjustment of the same magnitude at their final meeting of the year. Turning to the Brazilian economy, growth indicators released since the last meeting show an evolution slightly below expectations. Currently, Copom's baseline scenario and balance of risks indicate as appropriate to advance the process of monetary tightening further into the restrictive territory. source: Banco Central do Brasil

Interest Rate in Brazil averaged 14.01 percent from 1999 until 2021, reaching an all time high of 45 percent in March of 1999 and a record low of 2 percent in August of 2020. This page provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2021.

Interest Rate in Brazil is expected to be 9.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Brazil Interest Rate is projected to trend around 11.00 percent in 2022 and 7.00 percent in 2023, according to our econometric models.

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Brazil Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-08-04 10:00 PM Interest Rate Decision 5.25% 4.25% 5.25% 5.25%
2021-09-22 09:40 PM Interest Rate Decision 6.25% 5.25% 6.25% 6.25%
2021-10-27 09:35 PM Interest Rate Decision 7.75% 6.25% 7.25% 7.25%
2021-12-06 11:30 AM BCB Focus Market Readout
2021-12-08 09:00 PM Interest Rate Decision 7.75% 9.25% 9.25%
2021-12-13 11:30 AM BCB Focus Market Readout


Related Last Previous Unit Reference
Interest Rate 7.75 6.25 percent Oct/21
Cash Reserve Ratio 21.00 21.00 percent Oct/21
Money Supply M1 601286.93 607260.59 BRL Million Oct/21
Money Supply M0 396208.88 403676.33 BRL Million Oct/21
Money Supply M2 4162578.65 4142300.03 BRL Million Oct/21
Money Supply M3 8536098.54 8541309.58 BRL Million Oct/21
Foreign Exchange Reserves 367927.00 368886.00 USD Million Oct/21
Banks Balance Sheet 8900233.38 8698358.69 BRL Million Sep/21
Loans to Private Sector 695359.00 691314.00 BRL Million Oct/21
Loan Growth 1.50 2.10 percent Oct/21
Central Bank Balance Sheet 4156955771.00 3920330117.00 BRL Thousand Sep/21

News Stream
Brazil Delivers Largest Rate Hike Since 2002
The Central Bank of Brazil announced its sixth interest rate hike in 2021 and the biggest in almost two decades at its October meeting, raising the Selic rate by 150 basis points to 7.75%, against markets estimates of a 100 bps increase. The Committee said that recent questioning regarding the fiscal framework increased the risk of deanchoring inflation expectations and this pace is the most appropriate to guarantee inflation convergence to the targets at the relevant horizon, which includes 2022 and 2023. Policymakers foresee an adjustment of the same magnitude at their final meeting of the year. Turning to the Brazilian economy, growth indicators released since the last meeting show an evolution slightly below expectations. Currently, Copom's baseline scenario and balance of risks indicate as appropriate to advance the process of monetary tightening further into the restrictive territory.
2021-10-27
Brazil Hikes Interest Rate to 6.25%
The Central Bank of Brazil unanimously decided to raise the Selic rate by 100 basis points to 6.25% on September 22nd, as expected. It was the fifth interest rate hike in 2021 and policymakers see another interest rate increase by the same margin at the next meeting. The Committee considers that, at the present stage of the tightening cycle, this pace is the most appropriate to guarantee inflation convergence to the target at the relevant horizon and, simultaneously, allow the Committee to obtain more information regarding the state of the economy and the persistence of shocks. At this moment, the Copom's baseline scenario and balance of risks indicate as appropriate to advance the process of monetary tightening further into the restrictive territory.
2021-09-22
Brazil Central Bank Unveils Largest Rate Hike Since 2003
Brazil's central bank on Wednesday announced its fourth interest rate hike in 2021 and the biggest in almost two decades, raising the Selic rate by 100 basis points to 5.25%. The Committee aims to prevent high current inflation from spilling over into next year and foresees another adjustment of the same magnitude in September. .
2021-08-04

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.