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.

(Reporting by Marcela AyresEditing by William ​Schomberg)