Bank of Mexico tightens policy for sixth time in a row
Hike should stop temporary rises in inflation from passing through, says central bank board
The Bank of Mexico has continued to tighten its monetary policy with a sixth consecutive rise in interest rates, the institution announced on May 18.
The decision, which brings rates to 6.75%, appears to come as a surprise to markets, as many thought the board would leave its benchmark steady following the peso’s recent rally.
“The central bank will likely remain vigilant and focused on anchoring the inflation dynamics and the currency, but also aware of the latent risk that if it overreaches
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