Mexico continues tightening with 50bp hike
Central bank shadows Fed as it confronts ambivalent inflation figures
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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