Bank of Mexico holds rates as board splits
Change to rate-setting board’s make-up may herald change in policy stance, say observers
Bank of Mexico kept interest rates unchanged on December 17, in a vote that split its five-member governing board.
Three board members voted to keep the overnight interbank interest rate at 4.25%. But two unnamed members voted in favour of lowering the rate by 25 basis points.
Some observers think Bank of Mexico’s traditionally orthodox approach to monetary policy may be about to change. This was the last monetary policy meeting of deputy governor Javier Eduardo Guzmán Calafell, whose term in
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