The benchmark interest rate in Brazil was last recorded at 15 percent. This dataset provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Brazil's inflation rate and central bank interest rate have experienced significant fluctuations from 2018 to 2025, reflecting broader global economic trends. The country's inflation peaked at ***** percent in April 2020, followed by a gradual decline and subsequent rise, while the central bank adjusted its Selic rate in response to these economic dynamics. This pattern of volatility and monetary policy adjustments mirrors similar experiences in other major economies during the same period. Global context of inflation and interest rates Brazil's economic indicators align with the global trend of rising inflation and subsequent central bank responses observed in many countries. Like Brazil, other major economies such as the United States, United Kingdom, and European Union implemented aggressive rate hikes throughout 2022-2023 to combat inflationary pressures. However, a coordinated shift began in mid-2024, with many central banks initiating rate cuts. This global trend is reflected in Brazil's monetary policy decisions, as the country began reducing its Selic rate in August 2023 after maintaining it at ***** percent for several months. Comparison with other economies While Brazil's inflation rate reached **** percent in April 2025, other major economies exhibited varying levels of inflationary pressure. For instance, China reported a deflationary rate of **** percent, while Russia maintained a high inflation rate of **** percent during the same period. The United Kingdom, which experienced similar volatility in its inflation rate, saw it peak at *** percent in October 2022 before moderating to *** percent by September 2024. These comparisons highlight the diverse economic conditions and policy responses across different countries, with Brazil's experience falling somewhere in the middle of this spectrum.

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Central Bank Rates: Total for Brazil (IRSTCB01BRA156N) from 1996 to 2023 about Brazil, overnight, interest rate, banks, interest, depository institutions, and rate.

Monetary policy rate, also known as base interest rate or base rate, is a percentage defined by central banks to determine the cost of credit in a given economy. This indicator serves as a guide for other financial institutions to set their own interest rates. In 2024, Brazil's Central Bank set the monetary policy rate at 10.8 percent, down from 13.3 percent in the previous year.

Graph and download economic data for Interest Rates: Immediate Rates (< 24 Hours): Central Bank Rates: Total for Brazil (IRSTCB01BRQ156N) from Q4 1996 to Q4 2023 about Brazil, overnight, interest rate, banks, interest, depository institutions, and rate.

Key information about Brazil Policy Rate

• Brazil cash rate (Policy Rate: Month End: SELIC) was set at 13.25 % pa in Feb 2025, compared with 13.25 % pa in the previous Jan 2025.
• Brazil Policy Rate averaged 12.25 % pa and is updated monthly, available from Mar 1999 to Feb 2025.
• The data reached an all-time high of 42.00 % pa in Mar 1999 and a record low of 2.00 % pa in Feb 2021.
• Its Long Term Interest Rate (Long Term Interest Rate (TJLP): Per Annum) was reported at 7.97 % pa in Jan 2025.
• Brazil Exchange Rate against USD averaged 4.85 (USD/BRL) in Jun 2023.
• Its Real Effective Exchange Rate was 81.41 in Nov 2024.

Key information about Brazil Long Term Interest Rate

• Brazil Long Term Interest Rate (TJLP): Per Annum was reported at 7.97 % pa in Feb 2025, compared with 7.97 % pa in the previous month.
• Brazil Long Term Interest Rate data is updated monthly, available from Dec 1994 to Feb 2025.
• The data reached an all-time high of 26.01 % pa in Feb 1995 and a record low of 4.39 % pa in Mar 2021.
• Long Term Interest Rate is reported by reported by Central Bank of Brazil.
• The cash rate (Policy Rate: Month End: SELIC) was set at 13.25 % pa in Feb 2025.
• Brazil Exchange Rate against USD averaged 4.85 (USD/BRL) in Jun 2023.

Brazil Reference Rate (TR): Monthly Average: per Month data was reported at 0.000 % per Month in Jun 2019. This stayed constant from the previous number of 0.000 % per Month for May 2019. Brazil Reference Rate (TR): Monthly Average: per Month data is updated monthly, averaging 0.051 % per Month from Dec 2008 (Median) to Jun 2019, with 127 observations. The data reached an all-time high of 0.255 % per Month in Aug 2016 and a record low of 0.000 % per Month in Jun 2019. Brazil Reference Rate (TR): Monthly Average: per Month data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Interest and Foreign Exchange Rates – Table BR.MC002: Lending Rate: Central Bank of Brazil.

In May 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 20 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in May 2025. In contrast, Russia maintained a high inflation rate of 9.9 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

Brazil Market Expectation: Over Selic Rate: 1 Year Ahead: Standard Deviation data was reported at 0.850 % pa in 28 Jun 2019. This records an increase from the previous number of 0.820 % pa for 27 Jun 2019. Brazil Market Expectation: Over Selic Rate: 1 Year Ahead: Standard Deviation data is updated daily, averaging 1.190 % pa from Aug 2000 (Median) to 28 Jun 2019, with 4736 observations. The data reached an all-time high of 3.000 % pa in 20 Dec 2002 and a record low of 0.510 % pa in 03 Dec 2018. Brazil Market Expectation: Over Selic Rate: 1 Year Ahead: Standard Deviation data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Business and Economic Survey – Table BR.SA038: Market Expectation: Over Selic Rate. Market Expectations System was implemented in November 2001, previous projections were collected from incipient through telephone contacts, transcribed into spreadsheets and consolidated manually. Some empty time points occurred because the Market didn´t have the expectation for those days. The Over-Selic interest rate is set by the monetary authorities and has the role of signaling to economic agents the basic level of remuneration of federal securities. Its effective level is defined by the weighted average daily volume of operations backed by federal public short, medium and long-term securities at the present time. Such securities are issued by the Treasury or the Central Bank, negotiated and registered by the Special Settlement and Custody Service, Selic, in the form of repo operations. Notably, the Over-Selic interest rate has the function of guiding the other short-term interest rates of the economy, acting as a minimum limit.

Brazil Federal Funds Rate (Selic): Per Month data was reported at 1.060 % per Month in Apr 2025. This records an increase from the previous number of 0.960 % per Month for Mar 2025. Brazil Federal Funds Rate (Selic): Per Month data is updated monthly, averaging 1.215 % per Month from Jul 1986 (Median) to Apr 2025, with 466 observations. The data reached an all-time high of 82.040 % per Month in Feb 1990 and a record low of 0.130 % per Month in Feb 2021. Brazil Federal Funds Rate (Selic): Per Month data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Global Database’s Brazil – Table BR.MC002: Lending Rate: Central Bank of Brazil. [COVID-19-IMPACT]

PSND: Implicit Interest Rate: Year-to-Date: Foreign Net Debt: Federal Government & Central Bank of Brazil data was reported at -1.142 % pa in Apr 2019. This records a decrease from the previous number of -0.928 % pa for Mar 2019. PSND: Implicit Interest Rate: Year-to-Date: Foreign Net Debt: Federal Government & Central Bank of Brazil data is updated monthly, averaging 0.148 % pa from Jan 2002 (Median) to Apr 2019, with 208 observations. The data reached an all-time high of 74.016 % pa in Jul 2006 and a record low of -2.387 % pa in Apr 2016. PSND: Implicit Interest Rate: Year-to-Date: Foreign Net Debt: Federal Government & Central Bank of Brazil data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Government and Public Finance – Table BR.FB033: Public Sector Net Debt: Implicit Interest Rate: Year-to-Date.

PSND: Implicit Interest Rate: Internal Net Debt: Federal Government & Central Bank of Brazil data was reported at 0.726 % pa in Apr 2019. This records a decrease from the previous number of 0.980 % pa for Mar 2019. PSND: Implicit Interest Rate: Internal Net Debt: Federal Government & Central Bank of Brazil data is updated monthly, averaging 0.984 % pa from Dec 2001 to Apr 2019, with 209 observations. The data reached an all-time high of 3.202 % pa in Jul 2003 and a record low of -1.927 % pa in Jul 2002. PSND: Implicit Interest Rate: Internal Net Debt: Federal Government & Central Bank of Brazil data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Government and Public Finance – Table BR.FB032: Public Sector Net Debt: Implicit Interest Rate.

PSND: Implicit Interest Rate: Last 12 Months Accumulated: Internal Net Debt: Federal Government & Central Bank of Brazil data was reported at 8.729 % pa in Apr 2019. This records an increase from the previous number of 8.646 % pa for Mar 2019. PSND: Implicit Interest Rate: Last 12 Months Accumulated: Internal Net Debt: Federal Government & Central Bank of Brazil data is updated monthly, averaging 12.492 % pa from Nov 2002 (Median) to Apr 2019, with 198 observations. The data reached an all-time high of 25.168 % pa in Apr 2006 and a record low of 8.329 % pa in Jan 2019. PSND: Implicit Interest Rate: Last 12 Months Accumulated: Internal Net Debt: Federal Government & Central Bank of Brazil data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Government and Public Finance – Table BR.FB034: Public Sector Net Debt: Implicit Interest Rate: Last 12 Months Accumulated.

Public Sector: Last 12 Months Accumulated: Central Bank of Brazil: Uses: Internal Interest Rate data was reported at -42,547.962 BRL mn in Apr 2019. This records an increase from the previous number of -45,890.400 BRL mn for Mar 2019. Public Sector: Last 12 Months Accumulated: Central Bank of Brazil: Uses: Internal Interest Rate data is updated monthly, averaging -8,149.796 BRL mn from Nov 2002 (Median) to Apr 2019, with 198 observations. The data reached an all-time high of 23,083.762 BRL mn in Dec 2007 and a record low of -61,537.250 BRL mn in Sep 2018. Public Sector: Last 12 Months Accumulated: Central Bank of Brazil: Uses: Internal Interest Rate data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Government and Public Finance – Table BR.FA018: Public Sector: Uses and Sources: Central Bank of Brazil: Last 12 Months Accumulated. Banco Central do Brasil (Bacen)

Brazil Lending Rate: per Annum: Pre-Fixed: Individuals: Mortgages with Regulated Rates: Banco Fibra S.A. data was reported at 0.000 % pa in 03 Jul 2019. This stayed constant from the previous number of 0.000 % pa for 02 Jul 2019. Brazil Lending Rate: per Annum: Pre-Fixed: Individuals: Mortgages with Regulated Rates: Banco Fibra S.A. data is updated daily, averaging 0.000 % pa from Jan 2012 (Median) to 03 Jul 2019, with 1867 observations. The data reached an all-time high of 0.000 % pa in 03 Jul 2019 and a record low of 0.000 % pa in 03 Jul 2019. Brazil Lending Rate: per Annum: Pre-Fixed: Individuals: Mortgages with Regulated Rates: Banco Fibra S.A. data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Interest and Foreign Exchange Rates – Table BR.MB037: Lending Rate: per Annum: by Banks: Pre-Fixed: Individuals: Mortgages with Regulated Rates. Lending Rate: Daily: Interest rates disclosed represent the total cost of the transaction to the client, also including taxes and operating. These rates correspond to the average fees in the period indicated in the tables. There are presented only institutions that had granted during the period determined. In general, institutions practicing different rates within the same type of credit. Thus, the rate charged to a customer may differ from the average. Several factors such as the time and volume of the transaction, as well as the guarantees offered, explain the differences between interest rates. Certain institutions grant allowance of the use of the term overdraft. However, this is not considered in the calculation of rates of this type. It should be noted that the overdraft is a modality that has high interest rates. Thus, its use should be restricted to short periods. If the customer needs resources for a longer period, should find ways to offer lower rates. The Brazilian Central Bank publishes these data with a delay about 20 days with relation to the reference period, thus allowing sufficient time for all Financial Institutions to deliver the relevant information. Interest rates presented in this set of tables correspond to averages weighted by the values of transactions conducted in the five working days specified in each table. These rates represent the average effective cost of loans to customers, consisting of the interest rates actually charged by financial institutions in their lending operations, increased tax burdens and operational incidents on the operations. The interest rates shown are the average of the rates charged in the various operations performed by financial institutions, in each modality. In one discipline, interest rates may differ between customers of the same financial institution. Interest rates vary according to several factors, such as the value and quality of collateral provided in the operation, the proportion of down payment operation, the history and the registration status of each client, the term of the transaction, among others . Institutions with “zero” did not operate on modalities for those periods or did not provide information to the Central Bank of Brazil. The Central Bank of Brazil assumes no responsibility for delay, error or other deficiency of information provided for purposes of calculating average rates presented in this

Public Sector: Last 12 Months Accumulated: Central Bank of Brazil: Uses: External Interest Rate data was reported at -28,065.923 BRL mn in Apr 2019. This records a decrease from the previous number of -27,262.482 BRL mn for Mar 2019. Public Sector: Last 12 Months Accumulated: Central Bank of Brazil: Uses: External Interest Rate data is updated monthly, averaging -8,149.543 BRL mn from Nov 2002 (Median) to Apr 2019, with 198 observations. The data reached an all-time high of 102.997 BRL mn in Feb 2005 and a record low of -28,065.923 BRL mn in Apr 2019. Public Sector: Last 12 Months Accumulated: Central Bank of Brazil: Uses: External Interest Rate data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Government and Public Finance – Table BR.FA018: Public Sector: Uses and Sources: Central Bank of Brazil: Last 12 Months Accumulated. Banco Central do Brasil (Bacen)

Brazil Lending Rate: per Month: Pre-Fixed: Individuals: Purchase Other Goods: Finansinos S.A. Credito Financiamento e Investimento data was reported at 0.000 % per Month in 03 Jul 2019. This stayed constant from the previous number of 0.000 % per Month for 02 Jul 2019. Brazil Lending Rate: per Month: Pre-Fixed: Individuals: Purchase Other Goods: Finansinos S.A. Credito Financiamento e Investimento data is updated daily, averaging 0.000 % per Month from Jan 2012 (Median) to 03 Jul 2019, with 1867 observations. The data reached an all-time high of 2.820 % per Month in 29 Sep 2012 and a record low of 0.000 % per Month in 03 Jul 2019. Brazil Lending Rate: per Month: Pre-Fixed: Individuals: Purchase Other Goods: Finansinos S.A. Credito Financiamento e Investimento data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Interest and Foreign Exchange Rates – Table BR.MB002: Lending Rate: per Month: by Banks: Pre-Fixed: Individuals: Purchase Other Goods. Lending Rate: Daily: Interest rates disclosed represent the total cost of the transaction to the client, also including taxes and operating. These rates correspond to the average fees in the period indicated in the tables. There are presented only institutions that had granted during the period determined. In general, institutions practicing different rates within the same type of credit. Thus, the rate charged to a customer may differ from the average. Several factors such as the time and volume of the transaction, as well as the guarantees offered, explain the differences between interest rates. Certain institutions grant allowance of the use of the term overdraft. However, this is not considered in the calculation of rates of this type. It should be noted that the overdraft is a modality that has high interest rates. Thus, its use should be restricted to short periods. If the customer needs resources for a longer period, should find ways to offer lower rates. The Brazilian Central Bank publishes these data with a delay about 20 days with relation to the reference period, thus allowing sufficient time for all Financial Institutions to deliver the relevant information. Interest rates presented in this set of tables correspond to averages weighted by the values of transactions conducted in the five working days specified in each table. These rates represent the average effective cost of loans to customers, consisting of the interest rates actually charged by financial institutions in their lending operations, increased tax burdens and operational incidents on the operations. The interest rates shown are the average of the rates charged in the various operations performed by financial institutions, in each modality. In one discipline, interest rates may differ between customers of the same financial institution. Interest rates vary according to several factors, such as the value and quality of collateral provided in the operation, the proportion of down payment operation, the history and the registration status of each client, the term of the transaction, among others . Institutions with “zero” did not operate on modalities for those periods or did not provide information to the Central Bank of Brazil. The Central Bank of Brazil assumes no responsibility for delay, error or other deficiency of information provided for purposes of calculating average rates presented in this

Public Sector: Year to Date: Central Bank of Brazil: Uses: External Interest Rate data was reported at -9,565.487 BRL mn in Apr 2019. This records a decrease from the previous number of -7,105.478 BRL mn for Mar 2019. Public Sector: Year to Date: Central Bank of Brazil: Uses: External Interest Rate data is updated monthly, averaging -3,498.330 BRL mn from Jan 2002 (Median) to Apr 2019, with 208 observations. The data reached an all-time high of 88.121 BRL mn in Jun 2004 and a record low of -23,858.758 BRL mn in Dec 2018. Public Sector: Year to Date: Central Bank of Brazil: Uses: External Interest Rate data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Government and Public Finance – Table BR.FA017: Public Sector: Uses and Sources: Central Bank of Brazil: Year to Date. Banco Central do Brasil (Bacen)

Public Sector: Year to Date: Central Bank of Brazil: Uses: Internal Interest Rate: Real Interest data was reported at -40,692.510 BRL mn in Apr 2019. This records a decrease from the previous number of -33,051.363 BRL mn for Mar 2019. Public Sector: Year to Date: Central Bank of Brazil: Uses: Internal Interest Rate: Real Interest data is updated monthly, averaging -6,458.206 BRL mn from Jan 2002 (Median) to Apr 2019, with 208 observations. The data reached an all-time high of 18,016.060 BRL mn in Dec 2002 and a record low of -122,826.825 BRL mn in Sep 2018. Public Sector: Year to Date: Central Bank of Brazil: Uses: Internal Interest Rate: Real Interest data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Brazil Premium Database’s Government and Public Finance – Table BR.FA017: Public Sector: Uses and Sources: Central Bank of Brazil: Year to Date. Banco Central do Brasil (Bacen)