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Mexico central bank hikes key rate to 6.0% in bid to tackle inflation -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – The Mexico Central Bank logo (Banco de Mexico), can be seen in the building of its Mexico City headquarters, Mexico City on February 28, 2019. REUTERS/Daniel Becerril

MEXICO CITY, (Reuters) – Mexico’s central bank raised its benchmark rate to 6.00% on Thursday. This was a sixth consecutive rate hike that was consistent with the expectations of policymakers who sought to control inflation and keep prices under control.

The Bank of Mexico board voted in favor of the increase of half a percent, with Victoria Rodriguez as the new governor. Gerardo Esquivel, however, voted to raise the base rate by 25 basis points, or 5.75%.

Banxico as Banxico is also known said, “For the next monetary policy decisions, The board will monitor extensively inflationary pressures aswell as any factors that have an incidence upon the foreseen pathway for inflation and its expectation.”

Official data on Wednesday showed that Mexico’s core inflation rose to new heights in January, but that headline inflation fell slightly.

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