Mexico hikes again, but further moves unlikely

The Bank of Mexico raised rates for the third straight month on Friday but signalled that it would hold in the coming months in signs of a slump.

The central bank hiked its key overnight interbank rate target to 8.25%, its highest level since late 2005, after inflation climbed for the sixth month in a row to 5.39% in the year to July.

But the central bank said that Mexican growth would soon stutter, precipitating a fall in inflation if expectations remained well anchored. Recent data pointed

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