Mexico cuts while Colombia hikes, signalling diverging growth trajectories

Mexico City

Two of Latin America's most prominent central banks chose different tacks on monetary policy last week as the Bank of Mexico moved to cut interest rates while the Central Bank of Colombia did the opposite.

The two countries are facing similar challenges externally – both the Mexican peso and the Colombian peso have appreciated against the dollar in recent months – but the contrasting monetary policy shifts are evidence of differing domestic drivers.

Banxico took markets by surprise on Friday by

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