Brazil SELIC Target Interest Rate (Brazil) - Historical Data
Historical time series of the Brazil SELIC Target Interest Rate set by the Central Bank of Brazil (BCB) from 1986 to 2026. From 5 Mar 1999 onwards Central Bank target, money market (SELIC) overnight rate; from 1 Jul 1996 to 4 Mar 1999: Central Bank official rediscount rate; from 4 Jun 1986 to 30 Jun 1996: official market intervention rate, representative rate. The latest benchmark reading is 13.75% (Sep 2026), corresponding to an ex-post real policy rate of +9.53% after adjusting for Brazil headline CPI inflation (4.22%).
Current Statistics & Historical Records
Peak monetary tightening by Central Bank of Brazil (Brazil SELIC Target Interest Rate).
Lowest policy interest rate stance set by Central Bank of Brazil.
41 annual observations · Monthly
Brazil SELIC Target Interest Rate (Brazil) (1986-2026)
% p.a.Drag to pan, scroll to zoom, or toggle between full archive (1986–2026) and recent monthly observations.
BCB Policy Rate Averages by Decade
Decadal mean, peak, and trough across the 1986–2026 archive
| Decade | Years Covered | Decade Mean | Decade High (Year) | Decade Low (Year) |
|---|---|---|---|---|
| 1980s | 1986–1989 | 26670.77% | 103484.21% (1989) | 115.56% (1986) |
| 1990s | 1990–1999 | 1084.34% | 5571.91% (1993) | 19.00% (1999) |
| 2000s | 2000–2009 | 15.90% | 25.00% (2002) | 8.75% (2009) |
| 2010s | 2010–2019 | 9.68% | 14.25% (2015) | 4.50% (2019) |
| 2020s | 2020–2026 | 11.11% | 15.00% (2025) | 2.00% (2020) |
Complete Annual Historical Ledger (1986–2026)
Unit: % p.a. · Source: Bank for International Settlements (BIS) & Central Bank of Brazil (WS_CBPOL:M:BR)
| Year | Annual Value (% p.a.) | Real Policy Rate (CPI-Adj) | Intra-Year Range (Min – Max) | Monetary Regime & Historical Context |
|---|---|---|---|---|
| 2026 | 13.75% | +9.40% | 13.75% – 15.00% | - |
| 2025 | 15.00% | +9.98% | 13.25% – 15.00% | Post-tightening monetary recalibration across advanced and emerging central banks |
| 2024 | 12.25% | +7.88% | 10.50% – 12.25% | G10 policy rates peak and pivot toward gradual monetary normalization |
| 2023 | 11.75% | +7.15% | 11.75% – 13.75% | - |
| 2022 | 13.75% | +4.41% | 9.25% – 13.75% | Global inflation surge triggers fastest synchronized rate hiking cycle in four decades |
| 2021 | 9.25% | +0.96% | 2.00% – 9.25% | - |
| 2020 | 2.00% | -1.21% | 2.00% – 4.50% | COVID-19 pandemic emergency rate cuts and record balance sheet expansion |
| 2019 | 4.50% | +0.76% | 4.50% – 6.50% | - |
| 2018 | 6.50% | +2.84% | 6.50% – 7.00% | - |
| 2017 | 7.00% | +3.54% | 7.00% – 13.00% | - |
| 2016 | 13.75% | +4.98% | 13.75% – 14.25% | Bank of Japan introduces Yield Curve Control (YCC); post-Brexit BoE easing |
| 2015 | 14.25% | +5.24% | 12.25% – 14.25% | - |
| 2014 | 11.75% | +5.42% | 10.50% – 11.75% | ECB and European peers introduce Negative Interest Rate Policy (NIRP) |
| 2013 | 10.00% | +3.79% | 7.25% – 10.00% | - |
| 2012 | 7.25% | +1.84% | 7.25% – 10.50% | - |
| 2011 | 11.00% | +4.37% | 11.00% – 12.50% | European Sovereign Debt Crisis and Swiss franc safe-haven surge |
| 2010 | 10.75% | +5.71% | 8.75% – 10.75% | - |
| 2009 | 8.75% | +3.85% | 8.75% – 12.75% | - |
| 2008 | 13.75% | +8.08% | 11.25% – 13.75% | Global Financial Crisis drives major central banks to the zero lower bound and QE1 |
| 2007 | 11.25% | +7.61% | 11.25% – 13.00% | - |
| 2006 | 13.25% | +9.05% | 13.25% – 17.25% | - |
| 2005 | 18.00% | +11.11% | 18.00% – 19.75% | - |
| 2004 | 17.75% | +11.15% | 16.00% – 17.75% | - |
| 2003 | 16.50% | +1.72% | 16.50% – 26.50% | - |
| 2002 | 25.00% | +16.58% | 18.00% – 25.00% | - |
| 2001 | 19.00% | +12.16% | 15.25% – 19.00% | Dot-com bust and synchronized G10 monetary easing cycle |
| 2000 | 15.75% | +8.69% | 15.75% – 19.00% | - |
| 1999 | 19.00% | +14.14% | 19.00% – 42.00% | Launch of the Euro and establishment of the European Central Bank (ECB) |
| 1998 | 29.00% | +25.79% | 19.00% – 34.50% | - |
| 1997 | 38.74% | +31.77% | 18.74% – 46.02% | Asian Financial Crisis triggers emergency EM currency defense hikes |
| 1996 | 23.00% | +6.99% | 22.90% – 34.38% | - |
| 1995 | 40.25% | -107.73% | 40.25% – 85.43% | - |
| 1994 | 49.86% | -2901.69% | 49.86% – 15405.60% | Global bond market selloff and pre-emptive Federal Reserve tightening cycle |
| 1993 | 5571.91% | +3933.17% | 2184.68% – 5904.79% | - |
| 1992 | 1657.56% | +802.94% | 1204.21% – 2201.81% | European Exchange Rate Mechanism (ERM) crisis and Black Wednesday |
| 1991 | 1795.51% | +1303.26% | 179.24% – 3223.26% | - |
| 1990 | 1618.59% | -2497.60% | 64.75% – 355085.64% | German reunification tightening and Japanese asset bubble peak |
| 1989 | 103484.21% | +102251.51% | 219.97% – 103484.21% | - |
| 1988 | 2741.20% | +2187.01% | 512.86% – 2741.20% | - |
| 1987 | 342.09% | +123.58% | 125.27% – 1330.62% | Louvre Accord and Black Monday central bank liquidity provision |
| 1986 | 115.56% | -52.24% | 18.26% – 115.56% | - |
Frequently Asked Questions - BCB Policy Rate
What is the current Brazil SELIC Target Interest Rate?
As of Sep 2026, the Brazil SELIC Target Interest Rate is 13.75% per annum. Adjusted for headline inflation (4.22%), the ex-post real policy rate in Brazil stands at +9.53%.
What was the highest and lowest Central Bank of Brazil interest rate on record?
Across the 1986-2026 archive, the Brazil SELIC Target Interest Rate reached a record high of 355085.64% in Feb 1990 and a record low of 2.00% in Aug 2020. The long-run annual mean is 2874.63%.
What is the Central Bank of Brazil inflation target?
The Central Bank of Brazil operates with an official inflation target of 3.0% (±1.5% Tolerance Interval). Its statutory mandate is: Ensure the stability of the purchasing power of the currency and a solid financial system.
Source Metadata & Methodology Notes
- Primary Institution:
- Bank for International Settlements (BIS) & Central Bank of Brazil
- Dataset / Dataflow:
- BIS Central Bank Policy Rates (WS_CBPOL)
- Canonical Series ID:
- WS_CBPOL:M:BR
- Reuse & License:
- Terms of permitted use of BIS statistics
- Primary compilation: From 5 Mar 1999 onwards Central Bank target, money market (SELIC) overnight rate; from 1 Jul 1996 to 4 Mar 1999: Central Bank official rediscount rate; from 4 Jun 1986 to 30 Jun 1996: official market intervention rate, representative rate.
- Reporting agency: Central Bank of Brazil; harmonized and disseminated via the BIS WS_CBPOL statistical dataflow.
- Annual table values represent the year-end (December or latest available month) policy rate reading; minimum and maximum columns record the intra-year policy rate corridor.
- Ex-Post Real Policy Rate series is computed as Nominal Policy Rate (% p.a.) minus contemporaneous year-on-year Headline CPI Inflation (% from BIS WS_LONG_CPI).
Cite This Dataset (APA & BibTeX)
@misc{cbd_cbpol_brazil,
author = {CentralBankData.com},
title = {Brazil SELIC Target Interest Rate (Brazil)},
note = {Compiled from Bank for International Settlements WS_CBPOL:M:BR},
year = {2026},
url = {https://centralbankdata.com/brazil-selic-interest-rate}
}