* Real jumps as c.bank hikes by 75 bps * Colombian peso reverses early declines * Russian rouble resumes slide after Putin responds to Biden * Brazilian carrier Gol drops, cuts outlook (Adds comments, updates prices throughout) By Susan Mathew and Shreyashi Sanyal March 18 (Reuters) - The Brazilian real and Turkey"s lira outperformed broader emerging market peers on Thursday, following interest rate hikes by their respective central banks, while rising geopolitical tensions weighed on Russia"s rouble. The lira extended gains to 2.6% against the greenback after a hefty 200-basis-point (bps) hike, while Brazil"s real was up 0.6%, trimming early gains of almost 2%, after the central bank delivered a larger-than-expected 75-bps raise after the market closed overnight. "The interest rate differentials for Turkey are outstanding, the policy rate is now at 19% and since the lira has been battered since mid-February, long lira bets could grow," said Edward Moya, senior market analyst at OANDA. Delivering its first interest rate hike in nearly six years, Brazil"s rate-setting committee, Copom, raised the key rate to 2.75%, and flagged a similar move in May to fight inflation despite rising economic uncertainty. "We expect the move will prove effective in anchoring inflation expectations and supporting the credibility of the (Brazilian) Central Bank," said Samar Maziad, senior sovereign analyst at Moody"s. "However, in a context of a worsening pandemic and given the slow pace of vaccination, higher interest rates add downside risks to economic growth prospects for the rest of the year." The real is among the worst performing emerging market currencies, with worries about fiscal spending, political interference and rising inflation pushing it around 7% lower for the year. Russia"s rouble traded 0.7% lower after Russian President Vladimir Putin responded with a quip to U.S. counterpart Joe Biden"s warning of consequences for alleged Russian involvement in the 2020 U.S. elections, saying he wished the U.S. president good health. Washington is expected to impose new sanctions on Moscow as soon as next week. The rouble had fallen 1% on Wednesday. Declining oil prices also weighed on the crude-exporting nation"s currency. By afternoon trading, Colombia"s peso rose 0.7%, while Mexico"s peso edged 0.2% lower after data showed the country"s economy contracted by 4.0% in February compared to the same month a year earlier. Brazilian stocks fell 1.5% as state-owned oil producer Petroleo Brasileiro SA and consumer stocks like Magazine Luiza SA and Vale SA. Brazil"s largest airline Gol Linhas Aereas Inteligentes fell 6% after the company said it was cutting its outlook for early 2021. Key Latin American stock indexes and currencies at 1924 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1345.01 0.16 MSCI LatAm 2317.51 0.31 Brazil Bovespa 114759.40 -1.54 Mexico IPC 47735.42 0.12 Chile IPSA 4878.75 -0.62 Argentina MerVal 49020.63 -1.795 Colombia COLCAP 1320.69 -1.7 Currencies Latest Daily % change Brazil real 5.5581 0.48 Mexico peso 20.4622 -0.36 Chile peso 719.4 0.40 Colombia peso 3545.1 0.68 Peru sol 3.7078 -0.13 Argentina peso 91.2800 -0.08 (interbank) Argentina peso 141 2.13 (parallel) (Reporting by Shreyashi Sanyal and Susan Mathew in Bengaluru; editing by Jonathan Oatis, Alexandra Hudson)