The Central Bank of Brazil unexpectedly raised its benchmark interest rate by 75 basis points from an all-time low of 2 percent on 17 February 2021, above market expectations of a 50-bps increase. The decision was unanimous. The Committee said that the continuing increase in commodities prices, measured in local currency, are affecting current inflation and triggered additional increases in inflation forecasts for the next months, especially through its effects on fuel prices. For the next meeting, unless there is a significant change in inflation projections or in the balance of risks, the Committee foresees the continuation of the partial normalization process with another adjustment, of the same magnitude, in the degree of monetary stimulus. The Copom 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. source: Banco Central do Brasil
Interest Rate in Brazil averaged 14.20 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 April of 2021.
Interest Rate in Brazil is expected to be 2.75 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Brazil to stand at 5.50 in 12 months time. In the long-term, the Brazil Interest Rate is projected to trend around 6.00 percent in 2022 and 5.50 percent in 2023, according to our econometric models.