Bank of Mexico proceeds with gradual tightening process

Bank of Mexico

The Bank of Mexico’s monetary policy committee has voted to tighten policy rates, continuing the gradual tightening process it started in June.

The MPC voted 4 to 1 in favour of a 25 basis point increase to bring the policy rate to 5%. Governor Alejandro Díaz de León voted in favour of the rate increase, as well as committee members Galia Borja, Irene Espinosa and Jonathan Heath. Gerardo Esquivel voted in favour of leaving the target for the overnight interbank interest rate unchanged at 4.75%

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