WARSAW, Dec 8 (Reuters) - Poland"s central bank raised its main interest rate by 50 basis points to 1.75% on Wednesday, its third hike in as many months as emerging Europe"s largest economy grapples with its highest inflation in more than two decades. Tight labour markets and a strong recovery from the pandemic-related downturn have combined with global factors such as supply chain disruption and rising energy costs to give central and eastern Europe some of the continent"s highest inflation rates, piling pressure on central banks. "The Council"s assessment regarding the total scale of monetary tightening necessary... will consider incoming information on perspectives for inflation and economic growth, including the situation in the labour market," the central bank said in a statement. Analysts expect further tightening in the months ahead. "The tightening cycle will continue throughout the first quarter of next year - we believe that the MPC will raise rates to at least 3%," said Jakub Rybacki, an analyst from the Polish Economic Institute (PIE). The National Bank of Poland (NBP) hiked its main rate by 75 basis points in November, more than expected, but has faced criticism from some economists for starting to tighten policy later than regional peers. The Czech National Bank has been the most aggressive in central Europe in hiking rates since June, including a 125 basis point rise in November that was the biggest since 1997. In Hungary, the central bank raised its one-week deposit rate at a weekly tender on Thursday, its fifth rate rise in less than three weeks. Inflation in Poland was 7.7% in November, according to a flash estimate from the statistics office, and the government has announced an "Anti-inflation shield" of tax cuts and cash handouts to soften the blow for consumers. read more A Reuters poll of 23 analysts had forecast that the central bank would raise its main interest rate to 1.75% on Wednesday. The Polish zloty softened following the decision, trading 0.69% weaker on the day at 1612 GMT.