* Credit Suisse sees Brazil Selic rate ending 2021 at 8.25% * Petrobras surges after Q2 earnings top estimates * Peru"s Francke aims for fiscal deficit under 5.4% of GDP * Foreign miners in Chile warn lawmakers of fresh royalties By Susan Mathew Aug 5 (Reuters) - Brazil"s real jumped more than 1% on Thursday as the central bank signaled another 100 basis points hike in interest rates after raising by the same measure overnight, while stocks were boosted by an 8% surge in oil major Petrobras following strong results. Most other Latin American currencies firmed against the dollar, with Peru"s sol lifting off of all-time lows. The real led gains, trading 5.125 to the greenback, after the central bank"s latest move meant the key rate has been hiked by 325 basis points this year. A Reuters poll shows the currency is expected to hold on to these levels in the coming months. "We are revising our expectation of one hike of 100 basis points in September followed by two consecutive hikes of 50 basis points ... increasing the Selic interest rate to 8.25% by year-end 2021," said Credit Suisse analysts Solange Srour and Lucas Vilela. This helped investors look past political noise. Hundreds of business leaders published a letter on elections in an apparent rebuke of President Jair Bolsonaro"s recent threats against the 2022 elections. Bolsonaro raged against a Supreme Court investigation into his conduct and threatened to respond outside the limits of the constitution. Meanwhile, the Bovespa stock index was set for its best session in three weeks after Petrobras beat second quarter profit estimates on higher Brent prices, strong natural gas sales and relatively controlled expenses. Ordinary shares of the firm were set for their best session in nine months. Most other regional stock benchmarks traded in the black, tracking Wall Street, which was lifted by falling weekly jobless claims in the United States. MSCI"s index of Latam stocks jumped 2%, outperforming a broader index of emerging market stocks that was dented by hawkish comments from a top U.S. Federal Reserve official on Wednesday. Peru"s sol firmed 0.8%. Newly appointed moderate Finance Minister Pedro Francke on Wednesday said he hopes to keep Peru"s fiscal deficit for 2021 below a previously established limit of 5.4% of GDP, even as a new administration pushes to increase spending. Falling copper prices dented top producer Chile"s peso , down 0.2%, making its way closer to October lows. Foreign miners asked lawmakers to rewrite a bill that would slap royalties on their sales, saying that the fresh taxes could squander their competitiveness and future investment plans. Key Latin American stock indexes and currencies at 1438 GMT: Stock indexes Latest Daily % change MSCI Emerging Markets 1301.72 -0.17 MSCI LatAm 2536.92 1.94 Brazil Bovespa 123530.44 1.42 Mexico IPC 51219.27 0.05 Chile IPSA 4234.46 0.55 Argentina MerVal 65684.18 0.916 Colombia COLCAP 1244.56 0.3 Currencies Latest Daily % change Brazil real 5.1256 1.23 Mexico peso 19.8973 0.42 Chile peso 775 -0.14 Colombia peso 3908.5 -0.24 Peru sol 4.0514 0.82 Argentina peso 96.8600 -0.02 (interbank) (Reporting by Susan Mathew in Bengaluru; Editing by Will Dunham) Our Standards: The Thomson Reuters Trust Principles.