Brazil central bank holds rates at 14.25 pct as expected

miércoles 31 de agosto de 2016 17:11 GYT
 

BRASILIA Aug 31 (Reuters) - Brazil's central bank kept interest rates steady for the ninth straight time on Wednesday, leaving borrowing costs high to battle inflation that has failed to subside despite a crippling recession.

In a unanimous vote, the bank's monetary policy board decided to maintain its benchmark Selic rate at 14.25 percent, its highest in a decade. An overwhelming majority of analysts and traders expected the bank to leave rates unchanged. (Reporting by Alonso Soto; Editing by Bill Rigby)