The benchmark interest rate in Brazil was last recorded at 14.25 percent. This dataset provides - Brazil Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Brazil's inflation rate demonstrated significant volatility between January 2018 and February 2025. Initially fluctuating between 1.88 and 4.94 percent, the rate dramatically peaked at 12.13 percent in April 2020. After a gradual decline to 3.16 percent in June 2023, it rose to 4.61 percent in August 2023. Throughout 2024, inflation decreased monthly until April, reaching 3.69 percent, before entering another inflationary phase. Simultaneously, the Central Bank of Brazil adjusted the Selic rate in response to these economic dynamics. Following a series of rate hikes from February 2021 to August 2022, the Selic reached 13.75 percent. This rate remained stable until July 2023, when a series of cuts began. By April 2024, the Selic had dropped to 10.75 percent, further reduced to 10.5 percent in May 2024. As inflation increased in the latter part of 2024, the central bank initiated rate hikes, setting the Selic at 13.25 percent in January 2025.

Key information about Brazil Policy Rate

• Brazil cash rate (Policy Rate: Month End: SELIC) was set at 13.25 % pa in Jan 2025, compared with 12.25 % pa in the previous Dec 2024.
• Brazil Policy Rate averaged 12.25 % pa and is updated monthly, available from Mar 1999 to Jan 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 7.43 % pa in Nov 2024.
• Brazil Exchange Rate against USD averaged 4.85 (USD/BRL) in Jun 2023.
• Its Real Effective Exchange Rate was 81.41 in Nov 2024.

Brazil Market Expectation: Over Selic Rate: Annual Average: 1 Year Ahead: Standard Deviation data was reported at 0.920 % pa in 28 Jun 2019. This records an increase from the previous number of 0.880 % pa for 27 Jun 2019. Brazil Market Expectation: Over Selic Rate: Annual Average: 1 Year Ahead: Standard Deviation data is updated daily, averaging 1.040 % pa from Jul 2002 (Median) to 28 Jun 2019, with 4246 observations. The data reached an all-time high of 3.020 % pa in 20 Dec 2002 and a record low of 0.000 % pa in 25 Jul 2002. Brazil Market Expectation: Over Selic Rate: Annual Average: 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.SA039: Market Expectation: Over Selic Rate: Annual Average. 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 Debt Held by Public: Indexed: Selic Rate data was reported at 2,892.802 BRL bn in Jan 2025. This records an increase from the previous number of 2,754.676 BRL bn for Dec 2024. Brazil Federal Debt Held by Public: Indexed: Selic Rate data is updated monthly, averaging 499.275 BRL bn from Dec 1999 (Median) to Jan 2025, with 302 observations. The data reached an all-time high of 2,892.802 BRL bn in Jan 2025 and a record low of 99.064 BRL bn in Mar 2015. Brazil Federal Debt Held by Public: Indexed: Selic Rate 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.FB036: Federal Securities Issued: by Indexing Factor. Sistema Especial de Liquidação e Custodia (SELIC)

Brazil Market Expectation: Over Selic Rate: Annual Average: 2 Years Ahead: Median data was reported at 7.500 % pa in 28 Jun 2019. This stayed constant from the previous number of 7.500 % pa for 27 Jun 2019. Brazil Market Expectation: Over Selic Rate: Annual Average: 2 Years Ahead: Median data is updated daily, averaging 10.000 % pa from Jul 2002 (Median) to 28 Jun 2019, with 4246 observations. The data reached an all-time high of 15.730 % pa in 30 Dec 2002 and a record low of 7.500 % pa in 28 Jun 2019. Brazil Market Expectation: Over Selic Rate: Annual Average: 2 Years Ahead: Median 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.SA039: Market Expectation: Over Selic Rate: Annual Average. 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 Market Expectation: Over Selic Rate: Long Term: Standard Deviation data was reported at 0.910 % pa in 28 Jun 2019. This records an increase from the previous number of 0.900 % pa for 27 Jun 2019. Brazil Market Expectation: Over Selic Rate: Long Term: Standard Deviation data is updated daily, averaging 1.330 % pa from Nov 2001 (Median) to 28 Jun 2019, with 4416 observations. The data reached an all-time high of 3.890 % pa in 05 Jan 2004 and a record low of 0.000 % pa in 13 Dec 2018. Brazil Market Expectation: Over Selic Rate: Long Term: 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 Market Expectation: Over Selic Rate: Current Calendar Year: Standard Deviation data was reported at 0.460 % pa in 28 Jun 2019. This records a decrease from the previous number of 0.470 % pa for 27 Jun 2019. Brazil Market Expectation: Over Selic Rate: Current Calendar Year: Standard Deviation data is updated daily, averaging 0.450 % pa from Jan 2000 (Median) to 28 Jun 2019, with 4884 observations. The data reached an all-time high of 2.580 % pa in 21 Jun 2001 and a record low of 0.000 % pa in 14 Dec 2012. Brazil Market Expectation: Over Selic Rate: Current Calendar Year: 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 Market Expectation: Over Selic Rate: Annual Average: Long Term: Average data was reported at 7.170 % pa in 28 Jun 2019. This records a decrease from the previous number of 7.230 % pa for 27 Jun 2019. Brazil Market Expectation: Over Selic Rate: Annual Average: Long Term: Average data is updated daily, averaging 9.940 % pa from Jul 2002 (Median) to 28 Jun 2019, with 4233 observations. The data reached an all-time high of 16.000 % pa in 16 Dec 2004 and a record low of 7.170 % pa in 28 Jun 2019. Brazil Market Expectation: Over Selic Rate: Annual Average: Long Term: Average 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.SA039: Market Expectation: Over Selic Rate: Annual Average. 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 Market Expectation: Over Selic Rate: Annual Average: 1 Year Ahead: Average data was reported at 7.000 % pa in 28 Jun 2019. This records a decrease from the previous number of 7.070 % pa for 27 Jun 2019. Brazil Market Expectation: Over Selic Rate: Annual Average: 1 Year Ahead: Average data is updated daily, averaging 10.820 % pa from Jul 2002 (Median) to 28 Jun 2019, with 4242 observations. The data reached an all-time high of 18.770 % pa in 27 Dec 2002 and a record low of 7.000 % pa in 28 Jun 2019. Brazil Market Expectation: Over Selic Rate: Annual Average: 1 Year Ahead: Average 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.SA039: Market Expectation: Over Selic Rate: Annual Average. 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 Market Expectation: Over Selic Rate: Annual Average: 2 Years Ahead: Standard Deviation data was reported at 0.860 % pa in 28 Jun 2019. This records an increase from the previous number of 0.810 % pa for 27 Jun 2019. Brazil Market Expectation: Over Selic Rate: Annual Average: 2 Years Ahead: Standard Deviation data is updated daily, averaging 1.150 % pa from Jul 2002 (Median) to 28 Jun 2019, with 4246 observations. The data reached an all-time high of 3.100 % pa in 03 Jan 2003 and a record low of 0.000 % pa in 25 Jul 2002. Brazil Market Expectation: Over Selic Rate: Annual Average: 2 Years 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.SA039: Market Expectation: Over Selic Rate: Annual Average. 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 Selic Actual Rate: Per Day data was reported at 0.025 % in 04 Jul 2019. This stayed constant from the previous number of 0.025 % for 03 Jul 2019. Brazil Selic Actual Rate: Per Day data is updated daily, averaging 0.067 % from Jun 1986 (Median) to 04 Jul 2019, with 8287 observations. The data reached an all-time high of 3.626 % in 19 Feb 1990 and a record low of 0.025 % in 04 Jul 2019. Brazil Selic Actual Rate: Per Day data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Daily Database’s Lending Rates – Table BR.MB001: Lending Rate: Selic Target Rate.

Brazil Selic Actual Rate: Per Annum data was reported at 6.400 % pa in 04 Jul 2019. This stayed constant from the previous number of 6.400 % pa for 03 Jul 2019. Brazil Selic Actual Rate: Per Annum data is updated daily, averaging 18.410 % pa from Jun 1986 (Median) to 04 Jul 2019, with 8287 observations. The data reached an all-time high of 790,799.140 % pa in 19 Feb 1990 and a record low of 6.400 % pa in 04 Jul 2019. Brazil Selic Actual Rate: Per Annum data remains active status in CEIC and is reported by Central Bank of Brazil. The data is categorized under Daily Database’s Lending Rates – Table BR.MB001: Lending Rate: Selic Target Rate.

PSND: by Indexing Factor: Selic: Central Bank of Brazil data was reported at 890,892.485 BRL mn in Apr 2019. This records an increase from the previous number of 818,150.650 BRL mn for Mar 2019. PSND: by Indexing Factor: Selic: Central Bank of Brazil data is updated monthly, averaging 581,957.053 BRL mn from Aug 2006 (Median) to Apr 2019, with 153 observations. The data reached an all-time high of 1,055,979.396 BRL mn in Aug 2016 and a record low of 112,932.797 BRL mn in Dec 2008. PSND: by Indexing Factor: Selic: 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.FB023: Public Sector Net Debt: by Indexing Factor: Special System of Clearance and Custody Rate - Selic. Sistema Especial de Liquidação e Custodia (SELIC) Banco Central do Brasil (Bacen)

Market Expectation: Over Selic Rate: 1 Year Ahead: Standard Deviation在2019-06-28达0.850 % 每年，相较于2019-06-27的0.820 % 每年有所增长。Market Expectation: Over Selic Rate: 1 Year Ahead: Standard Deviation数据按每日更新，2000-08-07至2019-06-28期间平均值为1.190 % 每年，共4736份观测结果。该数据的历史最高值出现于2002-12-20，达3.000 % 每年，而历史最低值则出现于2018-12-03，为0.510 % 每年。CEIC提供的Market Expectation: Over Selic Rate: 1 Year Ahead: Standard Deviation数据处于定期更新的状态，数据来源于Central Bank of Brazil，数据归类于Brazil Premium Database的Business and Economic Survey – Table BR.SA038: Market Expectation: Over Selic Rate。

Market Expectation: Over Selic Rate: 2 Years Ahead: Standard Deviation在2019-06-28达0.830 % 每年，相较于2019-06-27的0.800 % 每年有所增长。Market Expectation: Over Selic Rate: 2 Years Ahead: Standard Deviation数据按每日更新，2000-08-07至2019-06-28期间平均值为1.240 % 每年，共4526份观测结果。该数据的历史最高值出现于2002-11-27，达2.770 % 每年，而历史最低值则出现于2001-11-06，为0.000 % 每年。CEIC提供的Market Expectation: Over Selic Rate: 2 Years Ahead: Standard Deviation数据处于定期更新的状态，数据来源于Central Bank of Brazil，数据归类于Brazil Premium Database的Business and Economic Survey – Table BR.SA038: Market Expectation: Over Selic Rate。

PSND: by Indexing Factor: Selic: Internal Net Debt: Federal Government: Relationship with Central Bank of Brazil: Federal Securities in Central Bank of Brazil data was reported at 655,918.425 BRL mn in Apr 2019. This records an increase from the previous number of 640,664.567 BRL mn for Mar 2019. PSND: by Indexing Factor: Selic: Internal Net Debt: Federal Government: Relationship with Central Bank of Brazil: Federal Securities in Central Bank of Brazil data is updated monthly, averaging 229,417.843 BRL mn from Apr 2008 (Median) to Apr 2019, with 133 observations. The data reached an all-time high of 664,959.357 BRL mn in Feb 2019 and a record low of 100,641.900 BRL mn in Apr 2008. PSND: by Indexing Factor: Selic: Internal Net Debt: Federal Government: Relationship with Central Bank of Brazil: Federal Securities in 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.FB023: Public Sector Net Debt: by Indexing Factor: Special System of Clearance and Custody Rate - Selic. Sistema Especial de Liquidação e Custodia (SELIC) Banco Central do Brasil (Bacen)

Brazil PSND: by Indexing Factor: Selic: Internal Net Debt: Federal Government data was reported at 1,913,567.721 BRL mn in Apr 2019. This records an increase from the previous number of 1,877,438.856 BRL mn for Mar 2019. Brazil PSND: by Indexing Factor: Selic: Internal Net Debt: Federal Government data is updated monthly, averaging 664,168.049 BRL mn from Aug 2006 (Median) to Apr 2019, with 153 observations. The data reached an all-time high of 1,932,155.928 BRL mn in Feb 2019 and a record low of 167,555.796 BRL mn in Jun 2007. Brazil PSND: by Indexing Factor: Selic: Internal Net Debt: Federal Government 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.FB023: Public Sector Net Debt: by Indexing Factor: Special System of Clearance and Custody Rate - Selic. Sistema Especial de Liquidação e Custodia (SELIC)

Brazil PSND: by Indexing Factor: Selic: State Government data was reported at 8,217.692 BRL mn in Apr 2019. This records an increase from the previous number of 6,359.991 BRL mn for Mar 2019. Brazil PSND: by Indexing Factor: Selic: State Government data is updated monthly, averaging -16,224.644 BRL mn from Aug 2006 (Median) to Apr 2019, with 153 observations. The data reached an all-time high of 17,662.933 BRL mn in Oct 2018 and a record low of -39,501.769 BRL mn in Mar 2014. Brazil PSND: by Indexing Factor: Selic: State Government 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.FB023: Public Sector Net Debt: by Indexing Factor: Special System of Clearance and Custody Rate - Selic. Sistema Especial de Liquidação e Custodia (SELIC)

PSND: by Indexing Factor: Selic: Internal Net Debt: Central Bank of Brazil: Relationship with Federal Government data was reported at -655,918.425 BRL mn in Apr 2019. This records a decrease from the previous number of -640,664.567 BRL mn for Mar 2019. PSND: by Indexing Factor: Selic: Internal Net Debt: Central Bank of Brazil: Relationship with Federal Government data is updated monthly, averaging -200,594.767 BRL mn from Aug 2006 (Median) to Apr 2019, with 153 observations. The data reached an all-time high of 206,936.017 BRL mn in Jun 2007 and a record low of -664,959.357 BRL mn in Feb 2019. PSND: by Indexing Factor: Selic: Internal Net Debt: Central Bank of Brazil: Relationship with Federal Government 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.FB023: Public Sector Net Debt: by Indexing Factor: Special System of Clearance and Custody Rate - Selic. Sistema Especial de Liquidação e Custodia (SELIC) Banco Central do Brasil (Bacen)