Brazil hikes interest rates to 12.75 pct to curb inflation
BRASILIA, March 4 (Reuters) - Brazil's central bank raised interest rates to 12.75 percent on Wednesday, keeping up its aggressive pace of monetary tightening to control high inflation despite a sharp economic slowdown.
The bank's monetary policy committee, known as Copom, voted unanimously to hike the benchmark Selic rate by 50 basis points for the third straight time. The move was expected by an overwhelming majority of economists and traders. (Reporting by Alonso Soto)
© Thomson Reuters 2016 All rights reserved.