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. source: Banco Central do Brasil

Interest Rate in Brazil averaged 14.05 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 October of 2021.

Interest Rate in Brazil is expected to be 6.25 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 7.75 percent in 2022 and 6.50 percent in 2023, according to our econometric models.

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Brazil Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-05-05 09:40 PM Interest Rate Decision 3.5% 2.75% 3.5% 3.5%
2021-06-16 10:00 PM Interest Rate Decision 4.25% 3.5% 4.25% 4.25%
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%
2021-10-25 11:30 AM BCB Focus Market Readout
2021-10-27 09:00 PM Interest Rate Decision 6.25% 7.25%
2021-11-01 11:30 AM BCB Focus Market Readout
2021-11-03 11:00 AM BCB Copom Meeting Minutes
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
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 Hikes Interest Rate to 4.25%
Brazil's central bank on Wednesday announced its third interest rate hike in 2021, a 75-basis point increase to 4.25% and anticipated a similar rise in August to mitigate the spread of current temporary shocks to inflation. Copom noted that, despite the intensity of the second wave of the pandemic, recent economic indicators showed a stronger-than-expected development. The Committee also emphasizes that its view for the next meeting will continue to depend on the evolution of economic activity, the balance of risks, and inflation projections and expectations.
2021-06-16
Brazil Hikes Interest Rate to 3.50%
Brazil's central bank on Wednesday announced its second interest rate hike in 2021, a 75-basis point increase to 3.5% and anticipated a similar rise in June to control inflation even as the economic recovery from the effects of the pandemic seems slower than estimated. Copom noted that despite an improved economic outlook, a worsening pandemic brought renewed uncertainty about the growth rate of the economy and the path of inflation. The Committee also emphasizes that its view for the next meeting will continue to depend on the evolution of economic activity, the balance of risks, and inflation projections and expectations.
2021-05-05

Brazil Last Unit Reference Previous Highest Lowest
Interest Rate 6.25 percent Sep/21 5.25 45.00 2.00
Cash Reserve Ratio 21.00 percent Sep/21 21.00 100.00 21.00
Money Supply M1 607260.59 BRL Million Sep/21 614205.63 621353.07 0.00
Money Supply M0 403676.33 BRL Million Sep/21 406329.19 427958.21 0.00
Money Supply M2 4114905.09 BRL Million Aug/21 4087720.85 4114905.09 0.01
Money Supply M3 8499650.54 BRL Million Aug/21 8426368.32 8499650.54 0.01
Foreign Exchange Reserves 368886.00 USD Million Sep/21 370395.00 388092.00 1187.00
Banks Balance Sheet 8526313.66 BRL Million Jun/21 8372327.43 8530347.00 4596.15
Loans to Private Sector 683577.00 BRL Million Aug/21 677258.00 875167.00 169316.00
Loan Growth 1.50 percent Aug/21 1.30 3.70 -1.00
Central Bank Balance Sheet 3920330117.00 BRL Thousand Jun/21 4052466034.00 4157645815.00 6.40


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.