Brazil holds benchmark rate, opens way for hike

Posted by 7Star Friday, January 29, 2010

Brazil's central bank on Wednesday held its benchmark interest rate steady at a record low, but left the door open for a rate hike in coming months. The bank's monetary policy committee, known as the Copom, voted unanimously to hold Brazil's so-called Selic rate at its record low of 8.75 percent, in line with analysts' expectations.

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