Selic rate today: rate, TR and IPCA updated
The Selic target rate, the TR and the IPCA inflation index over 12 months, as reported by the central bank, with the Copom meeting calendar for 2026 and what each rate changes in your mortgage.
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Today’s rates
Next Copom meeting: …. Among banks, average market rates range from … a … per year. Simulate a mortgage with these rates.
Copom calendar for 2026
Meetings of the Monetary Policy Committee. The Selic rate decision comes out at the end of the second day.
| Meeting | Decision |
|---|---|
| Jan. 27 and Jan. 28 | Jan. 28, 2026 |
| Mar. 17 and Mar. 18 | Mar. 18, 2026 |
| Apr. 28 and Apr. 29 | Apr. 29, 2026 |
| June 16 and June 17 | June 17, 2026 |
| Aug. 4 and Aug. 5 | Aug. 5, 2026 |
| Sept. 15 and Sept. 16 | Sept. 16, 2026 |
| Nov. 3 and Nov. 4 | Nov. 4, 2026 |
| Dec. 8 and Dec. 9 | Dec. 9, 2026 |
Source: Copom meeting calendar published by the Central Bank of Brazil. Check the central bank’s website in case of changes.
How the Selic rate reaches your mortgage
Selic
This is the rate set by Copom. Banks use the Selic as a reference when pricing credit, including mortgages.
TR
Adjusts the outstanding balance of contracts tied to the TR (reference rate). It is added to the bank’s interest and enters the simulation as a monthly rate.
IPCA
It is Brazil's official inflation rate. Some contracts use the IPCA as their index instead of the TR, and rent is usually adjusted by an inflation index.
The Selic rate: what it is, who sets it and why it matters to your wallet
The Selic is the benchmark interest rate of Brazil’s economy. What the central bank reports as the “Selic today” is the target set by the Monetary Policy Committee (Copom): the target for the rate banks charge each other on overnight loans backed by government bonds. The rate actually traded in the market, called the Selic Over, stays very close to the target.
How Copom decides
Copom, the central bank’s rate-setting committee, meets eight times a year, in two back-to-back sessions, and announces its decision at the end of the second day. It raises, holds or cuts the Selic target to steer inflation toward the goal set by the National Monetary Council. Higher rates cool demand and help contain prices; lower rates stimulate credit and activity. The table of dates on this page shows every meeting of the year.
Selic, TR and IPCA: three different rates
The Selic is the benchmark interest rate. The TR (Taxa Referencial, a reference rate) is calculated by the central bank and published every day; in mortgages “pegged to the TR” it adjusts the outstanding balance, on top of the bank’s interest. The IPCA, measured by IBGE (Brazil’s statistics agency), is the official inflation rate: it serves as an index in some contracts and as the reference for rent adjustments. Today’s figures appear at the top of this page, read from the central bank on every visit.
How the Selic rate affects your mortgage
When the Selic rate rises, money gets more expensive for banks, and market mortgage rates tend to go up; when it falls, they tend to come down. The effect takes time and varies by bank, and part of the lending uses FGTS (employee guarantee fund) and savings account funds, under its own rules. To see the effect in practice, use the mortgage simulator with each bank's rate, compare the SAC vs. Price and, if you already have a mortgage, calculate the loan portability for a lower rate.
High Selic rate: invest or buy?
With the Selic rate high, money in fixed-income investments earns more, and that weighs on the decision between buying and renting: renters can invest the down payment and the monthly difference. The comparison on the pages for apartments by city uses the current Selic rate, minus 15% income tax, as the default return on invested money, and you can change that assumption.
Source of the figures: Central Bank of Brazil (Selic target rate, SGS series 432; TR, series 226; IPCA, series 433). This page is for information only and is not investment advice.
Frequently asked questions
What is the Selic rate?
This is the benchmark interest rate of Brazil's economy. The Selic target is set at each meeting by the central bank's Monetary Policy Committee (Copom) and serves as a reference for other interest rates, including those on mortgages.
How does the Selic rate affect mortgages?
When the Selic rate rises, money gets more expensive for banks and mortgage rates tend to go up; when it falls, they tend to come down. The effect is neither immediate nor the same at every bank, and part of mortgage lending uses FGTS (employee guarantee fund) and savings account funds, under its own rules.
What is the TR and why is it part of the installment?
The Taxa Referencial (TR), a reference rate, adjusts the outstanding balance of mortgages “pegged to the TR”, on top of the bank’s interest. It is calculated by the central bank and published every day; today’s value appears at the top of this page.
When is the next Copom meeting?
The 2026 calendar is in the table on this page. The date of the next meeting is highlighted automatically. The central bank announces its decision at the end of the second day of each meeting.
Where do the numbers on this page come from?
From Brazil's central bank: target Selic rate (SGS series 432), TR (series 226), IPCA (series 433) and the banks' average rates ("Interest rates" database). The page reads current values on every visit; if the central bank's site is down, it shows the last reading.