The Central Bank of Brazil unanimously decided to increase the Selic rate by 50bps to 13.25% on June 15th 2022, as expected, bringing borrowing costs to the highest since December of 2016. It was the 11th consecutive interest rate hike since it started tightening in March of 2021, to combat persistent inflation. Brazil’s inflation slowed in May from April and from a year earlier, but the annual rate was still well above the central bank’s target of 3.5% at 11.73%. Policymakers judged that this 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. Meanwhile, recent economic data suggests a rate of growth above the Committee's expectations. For its next meeting, the Committee foresees another rate increase "of equal or lesser magnitude". 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 July of 2022.

Interest Rate in Brazil is expected to be 13.25 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 9.25 percent in 2023 and 8.00 percent in 2024, according to our econometric models.

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Brazil Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-03-16 10:15 PM Interest Rate Decision 11.75% 10.75% 11.75% 11.75%
2022-05-04 10:00 PM Interest Rate Decision 12.75% 11.75% 12.75% 12.75%
2022-06-15 09:35 PM Interest Rate Decision 13.25% 12.75% 13.25% 13.25%
2022-07-04 11:30 AM BCB Focus Market Readout
2022-07-11 11:30 AM BCB Focus Market Readout
2022-07-18 11:30 AM BCB Focus Market Readout


Related Last Previous Unit Reference
Interest Rate 13.25 12.75 percent Jun 2022
Cash Reserve Ratio 21.00 21.00 percent Jun 2022
Money Supply M0 385897.34 402172.01 BRL Million Mar 2022
Money Supply M1 596583.90 595724.63 BRL Million Feb 2022
Money Supply M2 4230504.43 4219657.28 BRL Million Feb 2022
Money Supply M3 8701522.28 8765990.49 BRL Million Feb 2022
Foreign Exchange Reserves 353169.00 357740.00 USD Million Mar 2022
Banks Balance Sheet 9029325.66 9009474.71 BRL Million Dec 2021
Loans to Private Sector 673993.00 678939.00 BRL Million Feb 2022
Loan Growth 0.80 0.00 percent Feb 2022
Central Bank Balance Sheet 4288302000.00 4156955771.00 BRL Thousand Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
13.25 12.75 45.00 2.00 1999 - 2022 percent Daily

News Stream
Brazil Lifts Interest Rate to 13.25% as Expected
The Central Bank of Brazil unanimously decided to increase the Selic rate by 50bps to 13.25% on June 15th 2022, as expected, bringing borrowing costs to the highest since December of 2016. It was the 11th consecutive interest rate hike since it started tightening in March of 2021, to combat persistent inflation. Brazil’s inflation slowed in May from April and from a year earlier, but the annual rate was still well above the central bank’s target of 3.5% at 11.73%. Policymakers judged that this 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. Meanwhile, recent economic data suggests a rate of growth above the Committee's expectations. For its next meeting, the Committee foresees another rate increase "of equal or lesser magnitude".
2022-06-15
Brazil Hikes Interest Rate to 12.75% as Expected
The Central Bank of Brazil unanimously decided to increase the Selic rate by 100bps to 12.75% on May 4th, as expected, following a similar move in the previous meeting and bringing borrowing costs to the highest level since February 2017 due to persistent inflation. It was the tenth consecutive interest rate hike since it started tightening. The Committee judged that this decision reflects the uncertainty around prospective inflation, an even higher-than-usual variance in the balance of risks and is consistent with the convergence of inflation to its target throughout the relevant horizon for monetary policy, which includes 2023. For its next meeting, the Committee foresees as likely an extension of the cycle, with an adjustment of lower magnitude.
2022-05-04
Brazil Hikes Interest Rate to 11.75% as Expected
The Central Bank of Brazil unanimously decided to raise the Selic rate by 100 basis points to 11.75% on March 16th, as expected, while signaling another 100bps rate hike at its next meeting. It was the ninth consecutive interest rate hike since it has started tightening. The committee noted that the tighter monetary conditions are aimed to combat secondary impacts of surging commodity prices due to the current supply shock and maintained that it will continue evaluating the situation and alter its guidance as necessary. The Copom also noted that inflation continues to surprise negatively, while fourth quarter growth expectations rose above previous expectations. The last consumer inflation reading pointed to 10.5% on the year, well above the central bank’s target of upper bound of the central bank target of 5%.
2022-03-16