Brazil central bank holds rates at 14.25 pct as expected
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)
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