Brazil central bank raises interest rate to 10.75 pct

BRASILIA Wed Feb 26, 2014 6:47pm EST

BRASILIA Feb 26 (Reuters) - Brazil's central bank raised its benchmark interest rate on Wednesday to 10.75 percent from 10.50 percent, slowing the pace of monetary tightening to avoid hurting an economy that is flirting with recession.

Thirty-four of 47 economists polled by Reuters last week expected the bank to raise its benchmark Selic lending rate by 25 basis points to 10.75 percent. The rest expected another 50-bps increase.

The decision by the bank's monetary policy committee, known as Copom, was unanimous.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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