BRASILIA: Brazil's central bank on Wednesday raised its benchmark interest rate to 12.0 percent from 11.75 percent.
The bank's monetary policy committee, known as Copom, voted by a vote of 5 to 2 to raise the so-called Selic rate by 25 basis points, following two rate hikes of 50 basis points each earlier this year.
Eleven of 26 analysts in a Reuters survey predicted the bank would lift the Selic by 25 basis points. Fourteen expected a steeper rate hike of 50 basis points, while one bet there would be no change at all.
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