Policy Interest Rate

The Policy Interest Rate is the benchmark interest rate set by the central bank to guide monetary conditions in the economy. It is the nominal annual rate used for monetary policy operations, and the precise definition can vary by country — for example, in Brazil the series corresponds to the Selic target rate decided by COPOM, not the effective Selic-over rate observed in the interbank market. This indicator is part of the Inter-American Development Bank (IDB) Latin Macro Watch, a curated macroeconomic database for Latin America and the Caribbean.

Coverage

The series covers 20 countries across Latin America and the Caribbean at annual, monthly and quarterly frequency, spanning 1990 to 2026. Values are available as a rate and in real terms, each with average-of-period and end-of-period variants, so the data support both nominal and inflation-adjusted comparisons of monetary policy stances over time.

Sources

Data are compiled from national central banks, including Banco Central do Brasil, Banco Central de Chile, Banco de Mexico (Banxico), Banco de la República de Colombia and Banco Central de Reserva del Perú, supporting comparable analysis of monetary policy across the region.

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Format	CSV
Language	en
Country	Argentina Bahamas Trinidad & Tobago Belize Costa Rica Dominican Republic Ecuador Bolivia Brazil Chile Colombia El Salvador Jamaica Mexico Nicaragua Guatemala Guyana Haiti Honduras Panama Uruguay Venezuela Barbados Paraguay Peru Suriname
Data notes	What does the Policy Interest Rate measure? It is the benchmark interest rate set by the central bank to guide monetary conditions in the economy, corresponding to the nominal annual rate used for monetary policy operations. How many countries and which frequencies and period are covered? The indicator covers 20 countries across Latin America and the Caribbean at annual, monthly and quarterly frequency, spanning 1990 to 2026. What units are available? Values are available as a rate and in real terms, each with average-of-period and end-of-period variants, allowing both nominal and inflation-adjusted comparisons. Where does the data come from? Data are compiled from national central banks, including Banco Central do Brasil, Banco Central de Chile, Banco de Mexico (Banxico), Banco de la República de Colombia and Banco Central de Reserva del Perú. What is this indicator typically used for? It is used to track monetary policy stances, compare interest rate cycles, and analyze inflation control and financial conditions across Latin America and the Caribbean. How do I cite this indicator? Cite it as: Inter-American Development Bank (IDB), Latin Macro Watch — "Policy Interest Rate". data.iadb.org/dataset/latin-macro-watch-dataset.