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.