Mexican MPC members determined to hold rates

All five governing board members agree it is necessary to avoid rate cuts to tame inflation

Bank of Mexico

The Bank of Mexico’s governing council is determined to maintain interest rates at restrictive levels, according to its latest policy meeting minutes, published on July 6.

All five members of the governing council made similar arguments, signalling they will maintain the policy rate at 11.25% over the coming months.

The board’s five members agree the inflationary outlook is complex and uncertain throughout the entire forecast horizon, with upward risks. “Thus, in order to achieve an orderly

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