October 31, 2018 / 9:16 PM / 16 days ago

Brazil holds rates at all-time low after far-right victory

BRASILIA, Oct 31 (Reuters) - Brazil’s central bank on Wednesday held interest rates at an all-time low, as widely expected, less than a week after the victory of far-right lawmaker Jair Bolsonaro in presidential elections allayed fears of a currency sell-off.

The bank’s nine-member monetary policy committee, known as Copom, kept the benchmark Selic rate at 6.50 percent for a fifth straight meeting. All but two of 42 economists polled by Reuters had expected the bank to stand pat. (Reporting by Bruno Federowski and Marcela Ayres; Editing by Tom Brown)

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