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Brazil Selic Rate (Central Bank of Brazil Policy Rate)
- Last updated: — policy rate data and historical series refreshed automatically each day.
Policy rates are the primary tool central banks use to control inflation and guide economic conditions. This page shows the latest Selic rate level along with a historical timeline to help you understand how Brazil’s monetary policy has evolved over time.
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Note: The Selic Rate is the benchmark interest rate at which financial institutions lend funds to each other overnight, using government securities as collateral. It is the primary tool used by the Central Bank of Brazil to control inflation and serves as the reference for all other interest rates in the economy.
What is the Selic Rate?
The Selic rate is Brazil’s main policy interest rate and serves as the benchmark for overnight lending backed by government securities in the Brazilian financial system. It is the primary reference rate for monetary policy and short-term interest rates across the economy.
Changes to the Selic rate influence borrowing costs, investment decisions, and financial conditions throughout Brazil.
Who decides the rate and what they’re trying to achieve?
The Selic rate is set by the Monetary Policy Committee (COPOM) of the Central Bank of Brazil. The committee’s primary objective is to ensure price stability, while also supporting sustainable economic growth and financial system stability.
Rate decisions reflect assessments of inflation expectations, economic activity, fiscal conditions, and domestic and global financial risks.
Why track global policy rates?
Currency movements
Policy-rate differences between countries can drive capital flows, influencing exchange rates as investors seek higher expected returns.
Credit and funding conditions
Central bank rates affect short-term funding costs, which feed through to loans, bonds, and broader credit markets.
Market valuation cycles
Shifts in policy rates change discount rates and growth expectations, influencing equities, housing markets, and commodity prices.
Why this matters for Canadians
Brazilian interest rate decisions can influence global risk sentiment and commodity markets, which in turn affect capital flows and financial conditions relevant to Canada.
Related Brazilian benchmark rates
Selic Over Rate (Effective Selic)
The effective Selic rate reflects the actual overnight rate observed in Brazil’s government securities market. It provides a market-based measure of funding conditions relative to the policy rate target set by COPOM.
- Frequently Asked Questions
Central Bank Rates
FAQs
It is Brazil’s main policy interest rate, used as the benchmark for overnight lending and monetary policy decisions.
The Selic rate is set by the Monetary Policy Committee (COPOM) of the Central Bank of Brazil.
COPOM meets regularly throughout the year, typically every six to eight weeks, to assess economic conditions and decide on the Selic rate.
Because the Selic rate influences funding costs, bond yields, and borrowing rates across the Brazilian financial system.
No. Consumer and business lending rates are market-determined and reflect funding costs, credit risk, and economic conditions.
Brazil plays a major role in global commodity markets and emerging-market capital flows, which can influence global financial conditions relevant to Canada.
Rate tables and charts are updated to reflect the most recent policy decisions and effective dates available at the time of publication.
Some sources reference policy announcement dates, while others display effective or settlement dates. Differences usually reflect methodology rather than errors.
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