Brazil Interest Rate 1999-2017 | Data | Chart | Calendar | Forecast

The Central Bank of Brazil slashed its key Selic rate by 50 basis points to 7.00 percent on December 6th of 2017 following a 75-bps trim on October 25th of 2017. The cut, widely anticipated and unanimous, was the tenth straight, bringing borrowing costs to the lowest in modern history amid plunging inflation and a slow recovery. Consumer prices in Brazil increased 2.7 percent year-on-year in October of 2017, above 2.54 percent in September and compared to market expectations of 2.75 percent, mainly due to rising electricity cost. Inflation went up for the second month after touching 2.46 percent in August, the lowest since 1999. Interest Rate in Brazil averaged 15.43 percent from 1999 until 2017, reaching an all time high of 45 percent in March of 1999 and a record low of 7 percent in November of 2017.

Brazil Interest Rate
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Brazil Slashes Key Rate to Record Low


The Central Bank of Brazil slashed its key Selic rate by 50 basis points to 7.00 percent on December 6th of 2017 following a 75-bps trim on October 25th of 2017. The cut, widely anticipated and unanimous, was the tenth straight, bringing borrowing costs to the lowest in modern history amid plunging inflation and a slow recovery.

The statement underscored that the global outlook has been favorable; the baseline inflation scenario has evolved as expected and that expectations have adjusted downwardly; and the balance of risks involves risks in both directions, with possible second-round effects of the favorable food price shock and of low current levels of industrial goods mentioned in first place. Regarding the next meeting, at this time the Copom views an additional moderate reduction of the pace of easing as appropriate.

The central bank started its easing cycle in October of 2016 after the inflation rate eased from double digits. Consumer prices increased 2.7 percent year-on-year in October of 2017, above 2.54 percent in September and compared to market expectations of 2.75 percent, mainly due to rising electricity cost. Inflation went up for the second month after touching 2.46 percent in August, the lowest since 1999.

The economic recovery is still taking longer than initially expected, albeit recent improvements seen lately. Industrial production rose 5.3 percent year-on-year in October of 2017, compared to a downwardly revised 2.5 percent increase in the previous month. It was the sixth consecutive expansion and the highest since April of 2013. Also, the employment rate increased to 54.20 percent in October from 54.10 percent in September of 2017, linking its seventh straight monthly improvement.

The median estimate in a central bank poll of economists currently (December 1st of 2017) points to growth of 0.89 percent in 2017 (vs 0.73 in the previous meeting) and 2.60 percent in 2018 (vs 2.50 percent). Analysts expect the Selic rate to end 2017 at 7.00 percent (vs 7.00 percent).

Mario |
12/7/2017 9:46:05 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-09-06 09:00 PM Interest Rate Decision 8.25% 9.25% 8.25% 8.25%
2017-10-25 08:20 PM Interest Rate Decision 7.50% 8.25% 7.5% 7.5%
2017-12-06 08:20 PM Interest Rate Decision 7.0% 7.50% 7% 7%
2018-02-07 08:20 PM Interest Rate Decision 7.0%
2018-03-21 08:20 PM Interest Rate Decision
2018-05-16 08:20 PM Interest Rate Decision


Brazil Money Last Previous Highest Lowest Unit
Interest Rate 7.00 7.50 45.00 7.00 percent [+]
Cash Reserve Ratio 45.00 45.00 100.00 42.00 percent [+]
Money Supply M0 264219.80 254453.34 270287.15 0.00 BRL Million [+]
Money Supply M1 312697.82 314099.87 351148.12 0.00 BRL Million [+]
Money Supply M2 2428148.43 2431239.39 2431239.39 0.01 BRL Million [+]
Money Supply M3 5736094.08 5691033.14 5736094.08 0.01 BRL Million [+]
Foreign Exchange Reserves 381056.00 380351.00 381843.00 1187.00 USD Million [+]
Banks Balance Sheet 5783249.60 5715578.80 6004329.00 1174638.70 BRL Million [+]
Loans to Private Sector 725535.00 729867.00 875284.00 169316.00 BRL Million [+]
Deposit Interest Rate 12.40 12.62 9394.29 7.81 percent [+]
Loan Growth 0.10 0.00 3.68 -1.01 percent [+]
Central Bank Balance Sheet 3143075725.00 3129268924.00 3143075725.00 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 December of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
7.00 7.50 45.00 7.00 1999 - 2017 percent Daily




interest rate by Country
Country Last
Turkey 8.00 Dec/17
Russia 7.75 Dec/17
Mexico 7.25 Dec/17
Brazil 7.00 Dec/17
India 6.00 Dec/17
China 4.35 Nov/17
Indonesia 4.25 Dec/17
Australia 1.50 Dec/17
South Korea 1.50 Nov/17
United States 1.50 Dec/17
Canada 1.00 Dec/17
United Kingdom 0.50 Dec/17
Euro Area 0.00 Dec/17
France 0.00 Dec/17
Germany 0.00 Dec/17
Italy 0.00 Dec/17
Netherlands 0.00 Dec/17
Spain 0.00 Dec/17
Japan -0.10 Oct/17
Switzerland -0.75 Dec/17