Bank of Mexico to maintain tight policy, minutes say

Board says it will have to keep rates at 11.25% “for an extended period”

Bank of Mexico

The Bank of Mexico’s (Banxico) board plans to maintain a tight monetary policy, according to minutes of its last meeting, published on June 1.

The board forecast inflation will remain a challenge through the forecast horizon with upward risks, minutes of the May 18 policy meeting show. It anticipates maintaining the reference rate at its current level “for an extended period,” to bring inflation to the 3% target, the minutes say.

On May 18, Banxico put an end to the sharpest tightening cycle

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