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Brazil Interest Rate
Last Release
Sep 20, 2023
Actual
12.75
Units In
%
Previous
13.25
Frequency
Daily
Next Release
Nov 01, 2023
Time to Release
1 Months 10 Days 15 Hours
Highest | Lowest | Average | Date Range | Source |
45 Mar 1999 | 2 Aug 2020 | 13.94 % | 1999-2023 | N/A |
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.
Latest Updates
The central bank of Brazil lowered its key Selic rate by 50 bps to 12.75% for the second consecutive meeting in September 2023, as widely expected. The Committee stated that the decision is compatible with the strategy of anchoring inflation around the target over a relevant horizon, while anticipating further cuts of the same magnitude in the next meetings. The Board also mentioned that the pace of rate cuts will be inline with the disinflationary process. The most recent data indicate inflation eased, but are still above the inflation target. Copom's inflation projections in the reference scenario stand at 5.0% for 2023, 3.5% for 2024, and 3.1% for 2025. Meanwhile, the economic activity showed stronger resiliency than previously expected, but the Committee continues to anticipate economic deceleration for the next quarters.
Brazil Interest Rate History
Last 12 readings