Brazil hikes interest rates to 13.25 pct to tame high inflation
BRASILIA, April 29 (Reuters) - Brazil's central bank raised interest rates to 13.25 percent from 12.75 percent as expected on Wednesday, maintaining its aggressive monetary tightening campaign to rein in inflation and win back the trust of investors.
The bank's monetary policy committee, known as Copom, voted unanimously to hike the benchmark Selic rate by 50 basis points for the fourth straight time. The move was expected by an overwhelming majority of economists and traders. (Reporting by Alonso Soto)
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