BRASILIA, March 22 (Reuters) - Brazil's central bank on
Wednesday held interest rates steady for the fifth consecutive
time, pointing to worse inflation expectations, and acknowledged
a more challenging scenario amid fears of a global banking
crisis.
The bank's rate-setting committee, known as Copom, kept its
Selic benchmark interest rate at 13.75%. The decision, which
defied intense pressure from the new government of President
Luiz Inacio Lula da Silva to reduce borrowing costs, matched the
expectations of all 30 respondents in a Reuters poll.
(Reporting by Marcela Ayres
Editing by Chris Reese)
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