WELLINGTON, Oct 6 (Reuters) - New Zealand’s central bank raised interest rates by 25 basis points on Wednesday, in a widely expected move aimed at putting a lid on rising inflation and cooling its hot economy. All economists polled by Reuters expected the Reserve Bank of New Zealand (RBNZ) to increase the cash rate to 0.50%, after it held off on a move in August due to a fresh outbreak of COVID-19. It is the first rate hike by the bank in seven years. The bank noted that further removal of monetary policy stimulus is expected over time. (Reporting by Praveen Menon; editing by Richard Pullin)