Brazil’s central bank ends run of rate cuts after Lula election win

BRASILIA, Nov 4 (Reuters) - Brazil’s central bank on Wednesday ended a run of interest rates cuts that began in March and kept borrowing costs on hold as it faced the prospect of higher inflation following President Luiz Inacio Lula da Silva’s reelection.

The central bank’s rate-setting committee, Copom, unanimously voted to keep its benchmark Selic rate at 13.75%, as expected by 33 of 48 economists polled by Reuters.