Brazil Economic Calendar

Brazil is the biggest economy in South America and the twelfth largest in the world. It is categorized as an advanced emerging economy, is one of the ten greatest markets in the world, and is a member of several economic organizations, including Mercosur, Prosur, G8+5, G20, WTO, Paris Club, Cairns Group, and is on pace to become an OECD permanent member.

The service sector contributes the most to the Gross Domestic Product (GDP), followed by the industrial and agriculture sectors.

Brazil is one of the few nations in the world that produces its oil, a resource that plays a vital role in the global economy. The country is at the forefront of alternative energy sources, producing more ethanol than both Asia and Europe combined. Additionally, Brazil is the second greatest iron ore producer in the world.

Brazil's official currency is the Brazilian Real (BRL). The central bank of Brazil, Banco Central do Brasil, has exclusive power to issue banknotes and coins in the country. Like other central banks, BCB is the country's primary monetary authority. The overnight rate set by the Banco Central do Brasil, known as the SELIC rate, is one of the main tools in Brazil's monetary policy.

The Central Bank of Brazil's Monetary Policy Committee is in charge of setting the rate for overnight loans (SELIC) which is the official Interest Rate in Brazil.