Bank of Mexico keeps rates at 11.25%
In unanimous decision, board stresses rates are likely to remain unchanged ‘for some time’
The Bank of Mexico’s (Banxico) governing board maintained interest rates unchanged in a unanimous decision following its monetary policy meeting, it announced on November 9.
The reference rate remains at 11.25%. Although officials acknowledged inflationary pressures are weakening, they warned interest rates will have to remain in restrictive territory in order to bring inflation down to the 3% target within the projection horizon.
The central bank paused its cycle of rate increases in May
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