The Central Bank of Brazil unanimously decided to lift the Selic rate by 50 bps to 13.75% on August 3rd 2022, as expected. It was the 12th consecutive interest rate hike since it started tightening in March of 2021, to fight soaring inflation. Brazil’s inflation rose to 11.89% in June of 2022 from 11.73% in the prior month, marking the 10th consecutive month of double-digit inflation and the second highest figure since 2003. Policymakers said the decision reflects the uncertainty around its scenarios for prospective inflation, an even higher-than-usual variance in the balance of risks and is consistent with the strategy for inflation convergence to a level around its target throughout the relevant horizon for monetary policy, which includes 2023 and, to a lesser extent, 2024. With regard to forward guidance, the Committee said will evaluate the need for another hike of smaller magnitude at its next meeting in September. source: Banco Central do Brasil
Interest Rate in Brazil averaged 13.95 percent from 1999 until 2022, 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 August of 2022.
Interest Rate in Brazil is expected to be 13.75 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 10.50 percent in 2023 and 8.00 percent in 2024, according to our econometric models.