Bank of Mexico increases interest rates by 75 basis points

Bank of Mexico

The Bank of Mexico’s governing board unanimously decided to increase interest rates by 75 basis points after its monetary policy meeting on August 11.

As a result of this decision, the key policy rate now stands at 8.5%. This was the second consecutive 75bp rate increase, a move widely anticipated by markets.

Despite a gradual policy tightening initiated in June 2021, inflation keeps on rising, way over the 3% target.

Last month, the headline reading increased year on year by 8.2%, and core

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