July 21, 2010 / 11:31 PM / 8 years ago

Brazil central bank raises Selic rate to 10.75 pct

BRASILIA, July 21 (Reuters) - Brazil’s central bank raised its benchmark interest rate on Wednesday for the third straight meeting, lifting it to 10.75 percent from 10.25 percent to keep a lid on inflation even as an economic boom starts to cool.

The bank’s monetary policy committee, known as Copom, voted unanimously to lift the so-called Selic rate BRCBMP=ECI by 50 basis points.

Only four of 20 analysts in a Reuters survey had expected a rate hike of 50 basis points, while 16 predicted a more aggressive increase of 75 basis points. (Reporting by Ana Nicolaci da Costa and Isabel Versiani; Editing by Gary Hill)

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