EMERGING MARKETS-Brazil's real jumps on inflation bets, Chilean peso tracks copper

* Brazil's 2021 inflation outlook jumps to 5% - survey * Mexican peso drops as economy shrinks more than expected By Shashank Nayar April 26 (Reuters) - The Brazilian real rose on Wednesday as expectations of high inflation pointed to more interest rate hikes, while the Chilean peso gained on higher copper prices and a weaker dollar after falling for three straight sessions. The real firmed 0.7% against the dollar after a survey of economists showed Brazil's 2021 inflation outlook rose to 5% for the first time and the interest rate outlook hit a new high of 5.5%, a sign that the central bank will raise rates aggressively at its next policy meeting. The bank's rate-setting committee known as "Copom", which is set to meet on May 4 and 5, is widely expected to repeat last month's landmark 75 basis point hike, which would lift the benchmark Selic rate to 3.50%. "The BCB (Central Bank of Brazil) has all but committed to another 75 basis point hike, and we would want to see the BCB restrain