Bank of Mexico continues tightening with split vote

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A majority of the Bank of Mexico’s governing board voted to increase policy rates by 25 basis points to 4.5% on August 12.

This is the board’s second consecutive decision to hike rates, following another 25bp increase in June. For the first time, the central bank disclosed the direction of vote of its rate-setters in the policy statement.

Governor Alejandro Díaz de León, and board members Irene Espinosa and Jonathan Heath, voted in favour of the rate increase. Galia Borja and Gerardo Esquivel

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