Mexican president leaks news of central bank’s rate hike
López Obrador reveals 50bp rise hours before monetary policy announcement
Mexico’s president Andrés Manuel López Obrador told an early morning press conference that the central bank would hike rates, pre-empting the official announcement.
The Bank of Mexico board had moved its monetary policy meeting up a day to March 23, to avoid conflicting with a banking industry convention in Acapulco. However, the board had only planned to announce its decision at 1pm local time on March 24, or 7pm UTC.
There is a long history of tension between López Obrador and the central
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