Brazil's Central Bank keeps annual interest rate at 14.25 pct

Brazil's Central Bank's Monetary Policy Committee (Copom) Wednesday voted to maintain the annual basic interest rate at 14.25 percent.

The decision marks the third time in a row since the end of June Copom has decided to keep the rate at 14.25 percent. Prior to that, the rate was increased on seven consecutive occasions. In 2015, the rate has risen 2.5 percentage points.

The decision takes into account the country's inflation rate and macroeconomic outlook, Copom said. The inflation rate is expected to surpass the inflation target this year and in 2016. The target for both years is 4.5 percent, with a two-point margin, meaning the rate should not go over 6.5 percent.

For the first time since October 2014, the committee's decision was not unanimous: two members voted to raise the interest rate to 14.75 percent, while the remaining six voted to keep it at its current rate.

The difference of opinions on the committee points to the possibility of the rate being raised in the near future.

At the previous Copom meeting in October, the committee said the rate would be maintained at 14.25 percent for a longer period, but no such statement was made this time. Endi