Bank of Mexico raises rates 75bp for third time

Banxico raises inflation forecasts as analysts say it is likely to continue following Fed

Bank of Mexico

The Bank of Mexico (Banxico) increased interest rates by 75 basis points at its monetary policy meeting on September 29.

As a result, the key policy rate stands now at 9.25%. This is the third consecutive 75bp increase and the eleventh upward rate adjustment in a row since June 2021.

Headline inflation increased year on year to 8.8% in the first two weeks of September. The board said food prices were the main driver of inflation. It stressed in its statement that inflation risks for the

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