Brazil's central bank keeps interest rates on hold

BRASILIA, July 16 Wed Jul 16, 2014 7:16pm EDT

BRASILIA, July 16 (Reuters) - The Brazilian central bank kept interest rates steady at 11 percent on Wednesday opting not to resume tightening in order to prevent further harm to an already weakening economy.

All 60 analysts surveyed by Reuters last week predicted policymakers would keep the Selic rate unchanged for the second straight time. (Reporting by Alonso Soto; editing by Andrew Hay)

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