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BRASILIA, Jan 21 (Reuters) - Brazil's central bank raised interest rates to 12.25 percent on Wednesday, maintaining an aggressive pace of monetary tightening to battle quickening inflation and regain the trust of investors.
The bank's eight-member monetary policy committee, known as Copom, voted to hike the benchmark Selic rate by 50 basis points for the second straight time. The move was expected by an overwhelming majority of economists and market traders. (Reporting by Alonso Soto; Editing by Toni Reinhold)