Brazil raises interest rates 100 bps, forecasts smaller hike ahead

BRASILIA, March 19 (Reuters) - Brazil's central bank raised interest rates by 100 basis points on Wednesday for the third consecutive time, sticking to previous guidance, and signaled a smaller rate hike at its next policy meeting as it monitors signs of an economic slowdown.

The bank's rate-setting committee, known as Copom, lifted the Selic rate to 14.25% — a level last seen in 2016 — in a unanimous decision, in line with the expectations of all 37 economists polled by Reuters.