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Brazil's central bank keeps key interest rate at 14.25%

Brazil's Central Bank kept its key interest rate at 14.25 percent after seven consecutive hikes aimed at holding back soaring inflationBrasília (AFP) – Brazil’s Central Bank kept its key interest rate at 14.25 percent Wednesday, breaking with a string of seven consecutive hikes aimed at holding back soaring inflation. A weekly Central Bank survey of 100 economists on Tuesday said that further raising the rate would not help Brazil’s steep economic slowdown. The bank said the decision Wednesday by its monetary policy committee was unanimous.

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