Central Bank of Brazil

Data Source: Central Bank of Brazil

Past Meetings

Rate Description Date Previous % Change % Rate % Statement Minutes
Target SELIC Wed 01 Nov 2023 12.75 0.50 12.25
Target SELIC Wed 20 Sep 2023 13.25 0.50 12.75
Target SELIC Wed 02 Aug 2023 13.75 0.50 13.25
Target SELIC Wed 21 Jun 2023 13.75 0.00 13.75
Target SELIC Wed 03 May 2023 13.75 0.00 13.75
Target SELIC Wed 22 Mar 2023 13.75 0.00 13.75
Target SELIC Wed 01 Feb 2023 13.75 0.00 13.75
Target SELIC Wed 07 Dec 2022 13.75 0.00 13.75
Target SELIC Wed 26 Oct 2022 13.75 0.00 13.75
Target SELIC Wed 21 Sep 2022 13.75 0.00 13.75
Target SELIC Wed 03 Aug 2022 13.25 0.50 13.75
Target SELIC Wed 15 Jun 2022 12.75 0.50 13.25
Target SELIC Wed 04 May 2022 11.75 1.00 12.75

Upcoming Meetings

Date Time
Wed 13 Dec 2023 06:30 PM Brasília time
Name Description Rate
Carlos Pedroso Target SELIC 11.75 %
Flavio Serrano Target SELIC 12.00 %

News

Forecasters

Forecaster
Score
José Francisco Gonçalves
85.71
Andres Abadia
85.71
Carlos Pedroso
85.71
Alex Agostini
57.14
Alessandra Ribeiro
57.14
Flavio Serrano
57.14
Edificio_Banco_Central_do_Brasil.jpg
Senado Federal, CC BY 2.0, via Wikimedia Commons

Banco Central do Brasil

The Banco Central do Brasil, often referred to simply as the Central Bank of Brazil, is the central monetary authority in Brazil. It plays a crucial role in the country's financial system and economic stability.

Mandate and Responsibilities

The primary objective of the Banco Central do Brasil is to maintain the stability of the Brazilian currency, the Real (BRL), and to ensure the stability and soundness of the financial system. It operates under the guidelines and goals established by the Brazilian government.

The responsibilities of the Central Bank include:

  • Formulating and implementing monetary policy to control inflation and promote economic growth.
  • Regulating and supervising financial institutions to maintain a stable and secure financial system.
  • Issuing and managing the national currency, the Real.
  • Managing the country's foreign exchange reserves and exchange rate policies.
  • Advising the government on economic and financial matters.

Organizational Structure

The Banco Central do Brasil is headed by a President, who is appointed by the President of Brazil. The President is supported by a Board of Directors, including a Deputy Governor for Economic Policy, a Deputy Governor for Financial System Regulation, and a Deputy Governor for Monetary Policy.

There are also various departments and units within the Central Bank responsible for different functions, such as the Monetary Policy Department, Financial System Regulation Department, Economic Research Department, and the Currency Department.

History and Evolution

The Central Bank of Brazil was established on December 31, 1964, with the enactment of Law No. 4,595. It was created to modernize the country's banking system and promote economic stability. Over the years, the Central Bank has undergone several reforms and changes to adapt to the evolving economic landscape and financial challenges.

Throughout its history, the Central Bank has played a significant role in steering Brazil's monetary policies, managing inflation, and contributing to the overall economic development of the country.

In a nutshell

The Banco Central do Brasil serves as a critical institution in the Brazilian financial system, responsible for maintaining monetary stability and ensuring the soundness of the financial sector. Through its various roles and functions, the Central Bank plays a vital role in promoting economic growth and stability within Brazil.