> For the complete documentation index, see [llms.txt](https://www.bluegamma.io/documentation/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.bluegamma.io/documentation/market-data-guides/forward-curves/advanced/how-to-access-brl-forward-curves-and-download-tlp-forecasts.md).
# How to Access BRL Forward Curves and Download TLP Forecasts
Where to find Brazilian BRL forward curves and download BNDES TLP forecasts and IPCA data in the BlueGamma web app, with a primer on CDI, SELIC and TLP.
***
#### **Step 1: Navigate to Interest Rate Curves**
1. In the navigation menu, select **“Interest Rate Curves.”**
2. Choose **BRL** as the currency.
***
#### **Step 2: Locate TLP and IPCA Rates**
1. Scroll down to find the card titled **“TLP and IPCA Rates.”**
* **TLP (Taxa de Longo Prazo):** The benchmark long-term rate for loans issued by the Brazilian Development Bank (BNDES). It replaced the TJLP, and it’s calculated monthly based on the IPCA inflation index and the yields of inflation-linked government bonds.
* **IPCA (Índice de Preços ao Consumidor Amplo):** Brazil’s main inflation gauge, monitored by the Central Bank of Brazil (BCB) to guide monetary policy and used to adjust indexed instruments such as NTN-B bonds.
***
#### **Step 3: Download the TLP Forecast**
1. Click **Download** to export the TLP forecast data as an Excel file.
***
#### **Where Do Our Forecasts Come From?**
* **TLP Forecasts from BNDES:**\
The **Brazilian Development Bank (BNDES)** is the primary source for TLP rates. BNDES is a government-backed institution that supports long-term investments and economic development projects. The TLP is used for financing provided by BNDES and reflects the cost of inflation-linked government bonds and the IPCA inflation index.
* **IPCA Data from the Central Bank of Brazil (BCB):**\
The **Central Bank of Brazil (BCB)** monitors and publishes IPCA data, which serves as the official measure of inflation in Brazil. It’s a critical indicator for setting monetary policy and adjusting financial instruments indexed to inflation.
***
#### **Understanding Key Brazilian Interest Rates**
* **CDI (Certificado de Depósito Interbancário):**\
A benchmark reflecting the average interest rate for overnight loans between banks in Brazil. The BRL forward curve on **Interest Rate Curves** is the CDI curve.
* **SELIC Rate:**\
The central policy rate in Brazil, used by the Central Bank of Brazil to control liquidity and influence economic activity.
* **BNDES Interest Rate:**\
The rate for long-term financing provided by BNDES, often tied to TLP or SELIC. The formula incorporates factors such as financial costs, agent fees, and credit spreads.
---
# Agent Instructions
This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com.
## Querying This Documentation
If you need additional information that is not directly available in this page, you can query the documentation by asking a question.
Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters:
```
GET https://www.bluegamma.io/documentation/market-data-guides/forward-curves/advanced/how-to-access-brl-forward-curves-and-download-tlp-forecasts.md?ask=&goal=
```
`ask` is the immediate question: it should be specific, self-contained, and written in natural language.
`goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case.
The response will contain a direct answer to the question and relevant excerpts and sources from the documentation.
Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.
