Bank of Mexico’s board disagreed on last rate cut – minutes
One board member opposed recent 25bp rate cut due to high inflation and uncertain fiscal outlook
At the August 15 policy meeting, the Bank of Mexico’s governing board stressed how weak demand and investment are hampering growth, while public finances may be hit by the indebted national oil company.
After the meeting, the central bank decreased the policy rate by 25 basis points from a record-high 8.25%. The minutes released on August 29 show governing board member Javier Eduardo Guzmán-Calafell opposed his four fellow members in the decision.
“In my judgment, the combined effect of
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