The Bank of Mexico increased policy rates by 50 basis points on March 24, after Mexican president Andrés Manuel López Obrador prematurely revealed the decision.

The president’s unprecedented intervention in monetary policy communication stoked new fears about the central bank’s independence. “Yesterday here in Mexico, the Banxico increased 0.5%, we are going to have an interest rate of 6.5%, when it increases there is less investment and inflation is supposed to fall, it is a control mechanism