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BACEN SELIC rate, Brazilian central bank’s interest rate

Charts - historic BACEN interest rates

Graph Brazilian interest rate BACEN - last year

Graph Brazilian interest rate BACEN - long-term graph

The current Brazilian interest rate BACEN (base rate) is 11.250 %

Banco Central do Brasil

Banco Central do Brasil (BACEN) is the Brazilian central bank. The BACEN is responsible for monetary policy and has as its mission to safeguard the stability of the national currency’s buying power and the solvency and efficiency of the financial system. In Brazil the central bank is the highest monetary authority and can operate fully autonomously, contrary to what is possible in most other countries. The same applies to the fact that the Banco Central do Brasil is responsible for both the national currency and the national economy. However, it is the case that the government monitors the BACEN in order to be able to check that nothing irregular is taking place.

The most important objectives for the period 2007 – 2011 have been defined as follows:
  • To achieve the targets relating to inflation as laid down by the Conselho Monetário Nacional (CMN), the national monetary council. For an overview of current inflation in Brazil, click here or here for current inflation by country.
  • To boost the efficiency, solvency and normal functioning of the national financial system.
  • To encourage competition within the national financial system and encourage expanded access to financial products and services.
  • To secure the money supply at a qualitative and reliable level and in accordance with the needs of the population.
  • To improve and strengthen communication and the relationship with internal and external stakeholders.
  • To improve the management and the corporate governance structure of the instruction.

BACEN Selic target rate

When reference is made to the Brazilian interest rate this often refers to this BACEN SELIC (sistema especial de liquidacao e custodia) rate. This SELIC rate is a benchmark interest rate, a base rate, with which the level of interest rates in the Brazilian economy can be influenced. The SELIC rate can best be compared to the FED’s Federal funds target rate or the ECB’s refi rate. The interest rate is an average of the interbank interest rates which are charged for the trade in government securities with a maturity of 1 day. If the SELIC rate is adjusted upwards or downwards this has an effect on the level of interest rates for banking products in the area of mortgages, savings and loans.

This page shows the current and historic values of BACEN’s SELIC target rate.

For a summary of the current interest rates of a large number of central banks please click here.

Tables - current and historic Brazilian central bank interest rates

BACEN latest interest rate changes

 change date percentage
 october 29 2014 11.250 %
 april 02 2014 11.000 %
 february 26 2014 10.750 %
 january 15 2014 10.500 %
 november 27 2013 10.000 %
 october 09 2013 9.500 %
 august 28 2013 9.000 %
 july 10 2013 8.500 %
 may 29 2013 8.000 %
 april 17 2013 7.500 %

Summary of other central banks’ interest rates

 central bank interest rate region percentage date
 FED interest rate United States 0.250 % 12-16-2008
 RBA interest rate Australia 2.500 % 08-06-2013
 BACEN interest rate Brazil 11.250 % 10-29-2014
 BoE interest rate Great Britain 0.500 % 03-05-2009
 BOC interest rate Canada 1.000 % 09-08-2010
 PBC interest rate China 5.600 % 11-21-2014
 ECB interest rate Europe 0.050 % 09-04-2014
 BoJ interest rate Japan 0.100 % 10-05-2010
 CBR interest rate Russia 9.500 % 10-31-2014
 SARB interest rate South Africa 5.750 % 07-17-2014

In order to be able to show the data on this page, we make use of a large number of sources of information that we believe to be reliable. For more information and our disclaimer, click here.

American interest rate (Fed)0.25 %12-16-2008
Australian interest rate (RBA)2.50 %08-06-2013
British interest rate (BoE)0.50 %03-05-2009
Canadian interest rate (BOC)1.00 %09-08-2010
European interest rate (ECB)0.05 %09-04-2014
Japanese interest rate (BoJ)0.10 %10-05-2010
All central banks interest rates, click here
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