Brazil interest rate
Central Bank of Brazil
- Policy rate
- 13.75%
- Sep 22, 2026
- Last move
- −0.25 pt
- Sep 22, 2026
- Inflation
- 4.4%
- Jul 2026
- 10-year bond yield
- 9.14%
- Aug 2026
The policy rate set by the Central Bank of Brazil is 13.75% as of Sep 22, 2026. Its most recent move: it cut its rate from 14.00% to 13.75% (Sep 22, 2026). The rate is 1.25 percentage points lower than a year earlier. With consumer prices up 4.4% over the 12 months to Jul 2026, the real rate (policy rate minus inflation) is +9.3%: borrowing costs are above inflation.
Policy rate over the past two years
Sep 22, 2026: 13.75%
Rate changes
| When | Decision | From | To | Change |
|---|---|---|---|---|
| Sep 22, 2026 | Cut | 14.00% | 13.75% | −0.25 pt |
| Aug 2026 | Cut | 14.25% | 14.00% | −0.25 pt |
| Jun 2026 | Cut | 14.50% | 14.25% | −0.25 pt |
| Apr 2026 | Cut | 14.75% | 14.50% | −0.25 pt |
| Mar 2026 | Cut | 15.00% | 14.75% | −0.25 pt |
| Jun 2025 | Hike | 14.75% | 15.00% | +0.25 pt |
| May 2025 | Hike | 14.25% | 14.75% | +0.50 pt |
| Mar 2025 | Hike | 13.25% | 14.25% | +1.00 pt |
| Jan 2025 | Hike | 12.25% | 13.25% | +1.00 pt |
| Dec 2024 | Hike | 11.25% | 12.25% | +1.00 pt |
| Nov 2024 | Hike | 10.75% | 11.25% | +0.50 pt |
| Sep 2024 | Hike | 10.50% | 10.75% | +0.25 pt |
Changes between month-end rates, plus the latest daily reading. Two decisions in one month show up as a single change.
Inflation (% vs a year earlier)
Jul 2026: 4.4%
10-year government bond yield
Aug 2026: 9.14%
Other central banks in South America
Source: BIS; inflation: IMF CPI; bond yield: OECD. Updated daily. All central bank rates · Brazil economy dashboard