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Brazil Interest Rate

Brazil's interest rate held at 15% in September 2025, unchanged from July 2025. This sustained rate reflects persistent inflation, expected at 4.8% for 2025 and 3.6% for 2026 which is above the central bank's target. Economic activity is moderating with a 2025 GDP growth forecast of 2.0%. The central bank remains cautious due to global uncertainties and service-sector inflation. It signals a prolonged pause but is prepared to resume rate hikes if necessary. Brazil's record low interest rate was 1.58% in March 1997 and record high was 45% in March 1999.

Historical Data (1996-2025)

(in %)
Date Interest Rate
Sep 18, 2025 15%
Jul 30, 2025 15%
Jun 18, 2025 15%
May 07, 2025 14.75%
Mar 19, 2025 14.25%
Jan 30, 2025 13.25%
Dec 11, 2024 12.25%
Nov 07, 2024 11.25%
Sep 18, 2024 10.75%
Jul 31, 2024 10.5%
Jun 19, 2024 10.5%
May 08, 2024 10.5%
Mar 21, 2024 10.75%
Jan 31, 2024 11.25%
Dec 13, 2023 11.75%
Nov 02, 2023 12.25%
Sep 21, 2023 12.75%
Aug 02, 2023 13.25%
Jun 21, 2023 13.75%
May 03, 2023 13.75%
Mar 22, 2023 13.75%
Jan 31, 2023 13.75%
Dec 07, 2022 13.75%
Oct 26, 2022 13.75%
Sep 21, 2022 13.75%
Aug 04, 2022 13.75%
Jul 31, 2022 13.25%
Jun 15, 2022 13.25%
May 04, 2022 12.75%
Mar 16, 2022 11.75%
Feb 02, 2022 10.75%
Dec 09, 2021 9.25%
Nov 30, 2021 7.75%
Oct 27, 2021 7.75%
Sep 22, 2021 6.25%
Aug 04, 2021 5.25%
Jun 16, 2021 4.25%
May 05, 2021 3.5%
Mar 17, 2021 2.75%
Jan 20, 2021 2%
Dec 09, 2020 2%
Oct 28, 2020 2%
Sep 16, 2020 2%
Aug 05, 2020 2%
Jun 17, 2020 2.25%
May 06, 2020 3%
Mar 18, 2020 3.75%
Feb 05, 2020 4.25%
Dec 11, 2019 4.5%
Oct 30, 2019 5%
Sep 18, 2019 5.5%
Jul 31, 2019 6%
Jun 19, 2019 6.5%
May 08, 2019 6.5%
Mar 20, 2019 6.5%
Feb 06, 2019 6.5%
Dec 12, 2018 6.5%
Oct 31, 2018 6.5%
Sep 19, 2018 6.5%
Jul 31, 2018 6.5%
Jun 20, 2018 6.5%
May 16, 2018 6.5%
Mar 22, 2018 6.5%
Feb 07, 2018 6.75%
Jan 07, 2018 6.75%
Dec 06, 2017 7%
Oct 25, 2017 7.5%
Sep 06, 2017 8.25%
Jul 26, 2017 9.25%
May 31, 2017 10.25%
Apr 13, 2017 11.25%
Mar 04, 2017 12.25%
Feb 22, 2017 12.25%
Jan 11, 2017 13%
Nov 25, 2016 13.75%
Oct 19, 2016 14%
Aug 31, 2016 14.25%
Jul 29, 2016 14.25%
Jun 04, 2016 14.25%
Apr 27, 2016 14.25%
Mar 04, 2016 14.25%
Jan 20, 2016 14.25%
Nov 25, 2015 14.25%
Oct 21, 2015 14.25%
Sep 02, 2015 14.25%
Jul 30, 2015 14.25%
Jun 03, 2015 13.75%
Apr 29, 2015 13.25%
Mar 04, 2015 12.75%
Jan 21, 2015 12.25%
Dec 03, 2014 11.75%
Oct 29, 2014 11.25%
Apr 02, 2014 11%
Feb 26, 2014 10.75%
Jan 15, 2014 10.5%
Nov 27, 2013 10%
Oct 09, 2013 9.5%
Aug 28, 2013 9%
Jul 10, 2013 8.5%
May 29, 2013 8%
Apr 17, 2013 7.5%
Oct 10, 2012 7.25%
Aug 29, 2012 7.5%
Jul 11, 2012 8%
May 30, 2012 8.5%
Apr 18, 2012 9%
Mar 07, 2012 9.75%
Jan 18, 2012 10.5%
Nov 30, 2011 11%
Oct 19, 2011 11.5%
Aug 31, 2011 12%
Jul 20, 2011 12.5%
Jun 08, 2011 12.25%
Apr 20, 2011 12%
Mar 02, 2011 11.75%
Jan 19, 2011 11.25%
Jul 21, 2010 10.75%
Jun 09, 2010 10.25%
Apr 28, 2010 9.5%
Jul 22, 2009 8.75%
Jun 10, 2009 9.25%
Apr 29, 2009 10.25%
Mar 11, 2009 11.25%
Jan 21, 2009 12.75%
Sep 10, 2008 13.75%
Jul 23, 2008 13%
Jun 04, 2008 12.25%
Apr 16, 2008 11.75%
Sep 05, 2007 11.25%
Jul 18, 2007 11.5%
Jun 06, 2007 12%
Apr 18, 2007 12.5%
Mar 07, 2007 12.75%
Jan 24, 2007 13%
Nov 29, 2006 13.25%
Oct 18, 2006 13.75%
Aug 30, 2006 14.25%
Jul 19, 2006 14.75%
May 31, 2006 15.25%
Apr 19, 2006 15.75%
Mar 08, 2006 16.5%
Jan 18, 2006 17.25%
Dec 14, 2005 18%
Nov 23, 2005 18.5%
Oct 19, 2005 19%
Sep 14, 2005 19.5%
May 18, 2005 19.75%
Apr 20, 2005 19.5%
Mar 16, 2005 19.25%
Jan 19, 2005 18.25%
Dec 15, 2004 17.75%
Oct 20, 2004 16.75%
Sep 15, 2004 16.25%
Apr 14, 2004 16%
Mar 17, 2004 16.25%
Dec 17, 2003 16.5%
Oct 22, 2003 19%
Sep 17, 2003 20%
Jul 23, 2003 24.5%
Jun 18, 2003 26%
Feb 19, 2003 26.5%
Jan 22, 2003 25.5%
Dec 18, 2002 25%
Nov 20, 2002 22%
Oct 14, 2002 21%
Jul 17, 2002 18%
Mar 20, 2002 18.5%
Feb 20, 2002 18.75%
Jul 18, 2001 19%
May 23, 2001 16.75%
Apr 18, 2001 16.25%
Mar 21, 2001 15.75%
Jan 17, 2001 15.25%
Dec 20, 2000 15.75%
Jul 19, 2000 16.5%
Jun 20, 2000 17.5%
Mar 28, 2000 18.5%
Sep 22, 1999 19%
Jul 28, 1999 19.5%
Jun 23, 1999 21%
May 19, 1999 23.5%
May 12, 1999 27%
May 07, 1999 29.5%
Apr 28, 1999 32%
Apr 14, 1999 34%
Apr 05, 1999 39.5%
Mar 24, 1999 42%
Mar 04, 1999 45%
Jan 18, 1999 25%
Dec 16, 1998 29%
Sep 02, 1998 19%
Jul 29, 1998 19.75%
Jun 24, 1998 21%
May 20, 1998 21.75%
Apr 15, 1998 23.25%
Mar 04, 1998 28%
Jan 28, 1998 34.5%
Dec 17, 1997 38%
Oct 30, 1997 3.05%
Mar 19, 1997 1.58%
Jan 22, 1997 1.66%
Dec 18, 1996 1.7%
Nov 27, 1996 1.74%
Oct 23, 1996 1.78%
Sep 23, 1996 1.82%
Aug 21, 1996 1.88%
Jun 26, 1996 1.9%

Recent Events

datetime event actual previous consensus
2025-09-17 05:30 PM Interest Rate Decision 15% 15% 15%

Next Release Date :

Brazil Interest Rate : Definition
The Interest Rate set by the Central Bank of Brazil is the benchmark cost of borrowing in the economy. It influences lending, spending, investment, inflation, and overall financial stability.
Indicator Last Value Prior Value Period
Current Account to GDP Ratio -2.5% -1.1% Dec'24
Government Gross Debt to GDP 76.5% 73.8% Dec'24
Private Credit (% GDP) 75.84% 71.08% 2024