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Brazil's central bank ends run of rate cuts after Lula election win

Reuters
Brazil's central bank ends run of rate cuts after Lula election win

BRASILIA, Nov ‌4 (Reuters) - Brazil's central bank ​on ‌Wednesday ended a ‌run of interest rates ‌cuts that began in March and kept borrowing ⁠costs on ‌hold as it ⁠faced the prospect ​of higher inflation following President ​Luiz Inacio ​Lula ‌da Silva's reelection.

The ​central ⁠bank's rate-setting committee, ‌Copom, unanimously ​voted ​to keep its benchmark Selic rate at 13.75%, ‌as expected by 33 ‌of 48 ​economists polled by Reuters.

(Reporting by Marcela AyresEditing ‌by William Schomberg)