Bank of Mexico raises rates on high inflation and policy uncertainty
The governing board increased the policy rate by 25 basis points to 8.25%
The Bank of Mexico further raised interest rates after its monetary policy meeting on December 20 on high inflation and policy uncertainty around the new government.
The governing board increased the overnight interbank rate by 25 basis points to 8.25%, the highest level since late 2008. The decision follows the rate hike implemented by the Federal Reserve on December 19. In the policy statement, rate-setters stress the increased volatility of the peso’s exchange rate “reflect[s] the
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