Brazil central bank holds rates at all-time low, as expected

BRASILIA/SAO PAULO (Reuters) – The Brazilian central bank on Wednesday held interest rates at an all-time low, as widely expected, and hinted that it will likely hold off from raising them for longer than expected.

The bank’s nine-member monetary policy committee, known as Copom, kept the benchmark Selic rate at 6.50 percent for a sixth straight meeting. All 35 economists polled by Reuters had expected the bank to stand pat.