Mexico continues tightening with 50bp hike

The Bank of Mexico
The Bank of Mexico
Photo: Daniel Hinge

The Bank of Mexico continued its programme of rate hikes with a 50 basis point increase on December 15, bringing the policy rate to 10.5%.

Four of the central bank’s five-member board voted for the 50bp hike, while deputy governor Gerardo Esquivel favoured a 25bp increase. The decision marks the thirteenth consecutive hike in 18 months. The rate was 4% at the height of the Covid-19 pandemic.

The decision mirrored the Federal Open Market Committee’s 50bp increase to the US fed funds rate

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