Brazil central bank keeps interest rate at 14.25 pct
BRASILIA Nov 25 (Reuters) - Brazil's central bank kept interest rates on hold for the third straight meeting on Wednesday as expected in a move to avoid further damage to an ailing economy, despite a surge in inflation.
In a divided vote, the bank's monetary policy committee, known as Copom, maintained its benchmark Selic rate at 14.25 percent, its highest in nine years and well above that of emerging market peers like India and Mexico. Two of the 8-member Copom voted to raise the Selic to 14.75 while the rest voted for the rate to remain steady. (Reporting by Alonso Soto; Editing by Chris Reese)
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