Brazil Interest Rate  1999-2018 | Data | Chart | Calendar | Forecast

The Central Bank of Brazil voted unanimously to hold its key Selic rate at 6.50 percent on August 1st as widely expected, keeping borrowing costs at the lowest level in modern history amid below-target inflation and mixed economic data. Interest Rate in Brazil averaged 15.17 percent from 1999 until 2018, reaching an all time high of 45 percent in March of 1999 and a record low of 6.50 percent in March of 2018.

Brazil Interest Rate
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Brazil Holds Interest Rate at 6.50%


The Central Bank of Brazil voted unanimously to hold its key Selic rate at 6.50 percent on August 1st as widely expected, keeping borrowing costs at the lowest level in modern history amid below-target inflation and mixed economic data.

Policymakers underscored the effects of the halt in the transportation sector in May, negatively weighing on both the economic and inflation outlooks. Regarding the next meetings, the Committee emphasized that risks around its baseline scenario remain in both directions and reiterated that economic conditions prescribe accommodative monetary policy.

The central bank started its easing cycle in October of 2016 after the inflation rate eased from double digits. Annual inflation climbed to 4.39 percent in June 2018 from 2.86 percent in the previous month. The rate came in slightly below market expectations of 4.42 percent, still hitting the highest level since March 2017 on the back of persistent currency weakness.

The economic recovery is still taking longer than initially expected, with recent data affected by strikes. Brazil's economic activity shrank 3.34 percent month-over-month in May 2018, a month highly affected by nationwide truckers strikes, following a 0.46 percent growth in April and compared to market expectations of a 3.45 percent contraction. It was the steepest decline in economic activity since the series began in 2003. Meanwhile, Industrial production dipped 6.6 percent year-on-year in May 2018, the most since October 2016, compared to an upwardly revised 9.0 percent jump in April and market consensus of a 11.5 percent slump.

The median estimate in the last central bank poll of economists (27 July 2018) currently points to growth of 1.50 percent for 2018 (vs 1.55 percent four weeks ago) and of 2.50 percent for 2019 (unchanged). Analysts expect the Selic rate to end 2018 at 6.50 percent (unchanged).


Mario | mario@tradingeconomics.com
8/2/2018 9:30:03 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-05-16 09:00 PM Interest Rate Decision 6.50% 6.50% 6.25% 6.25%
2018-06-20 09:00 PM Interest Rate Decision 6.5% 6.50% 6.5% 6.5%
2018-08-01 09:00 PM Interest Rate Decision 6.5% 6.5% 6.5% 6.5%
2018-09-19 09:00 PM Interest Rate Decision 6.5% 6.5% 6.5%
2018-10-31 09:00 PM Interest Rate Decision 6.5%
2018-12-12 08:00 PM Interest Rate Decision 6.5%


Brazil Money Last Previous Highest Lowest Unit
Interest Rate 6.50 6.50 45.00 6.50 percent [+]
Cash Reserve Ratio 25.00 25.00 100.00 25.00 percent [+]
Money Supply M0 277677.29 275338.55 296755.46 0.00 BRL Million [+]
Money Supply M1 361191.40 332694.02 363025.90 0.00 BRL Million [+]
Money Supply M2 2589685.69 2556074.46 2589685.69 0.01 BRL Million [+]
Money Supply M3 5856775.59 6007614.45 6007614.45 0.01 BRL Million [+]
Foreign Exchange Reserves 381393.00 379444.00 382549.00 1187.00 USD Million [+]
Banks Balance Sheet 6156144.10 5968057.90 6156144.10 1174638.70 BRL Million [+]
Loans to Private Sector 674196.00 678257.00 875284.00 169316.00 BRL Million [+]
Deposit Interest Rate 8.51 12.40 9394.29 7.81 percent [+]
Loan Growth -0.20 0.80 3.68 -1.01 percent [+]
Central Bank Balance Sheet 3409301938.00 3367787519.00 3409301938.00 6.40 BRL Thousand [+]


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. This page provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Brazil Interest Rate - actual data, historical chart and calendar of releases - was last updated on September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
6.50 6.50 45.00 6.50 1999 - 2018 percent Daily




interest rate by Country
Country Last
Argentina 60.00 Sep/18
Turkey 24.00 Sep/18
Mexico 7.75 Aug/18
Russia 7.50 Sep/18
Brazil 6.50 Aug/18
India 6.50 Aug/18
South Africa 6.50 Aug/18
Indonesia 5.50 Aug/18
China 4.35 Aug/18
Saudi Arabia 2.50 Aug/18
United States 2.00 Aug/18
Australia 1.50 Sep/18
Canada 1.50 Sep/18
South Korea 1.50 Aug/18
Singapore 1.06 Aug/18
United Kingdom 0.75 Sep/18
Euro Area 0.00 Sep/18
France 0.00 Sep/18
Germany 0.00 Sep/18
Italy 0.00 Sep/18
Netherlands 0.00 Sep/18
Spain 0.00 Sep/18
Japan -0.10 Sep/18
Switzerland -0.75 Aug/18


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