Banco de México Raises Rates by 50 bps to Record High 10.50%, Hints at More Hikes

The Mexican Central Bank, Banco de México raised interest rates by 50 basis points to 10.50% at its December 2022 meeting, as expected. It was the 13th consecutive rate hike, adding to the 650bps of rate increases since the start of the bank’s tightening cycle in June. The Bank signaled that future decisions will be dependent on up-to-date economic data available. with the bank saying headline and core inflation forecasts were revised upwards. Five of the six board members voted in … Continue reading “Banco de México Raises Rates by 50 bps to Record High 10.50%, Hints at More Hikes”

Banco de México Raised Rates for 11th Straight Time to Record 9.25%

The Mexican Central Bank, Banco de México raised rates for the 11th consecutive rate increase since June of 2021 and third straight by 75 basis points to 9.25% matching the previous three interest-rate moves by the U.S. Federal Reserve. The bank again increasing its forecasts for headline and core inflation forecasts. The size of future rate increases will depend on prevailing conditions, the bank added. Banco de México’s Governing Board decided to raise the target for the overnight interbank interest … Continue reading “Banco de México Raised Rates for 11th Straight Time to Record 9.25%”

Mexican Inflation Rate Soared to Highest Since 2000, Banco de México to Raise Rates Again

Mexico’s annual inflation rate rose to 8.70% in August of 2022 to the highest level since December of 2000. Prices rose from 8.15% in July. Prices were sharply higher for both goods at 10.55% due to processed foods and beverages up 12.94% and services up 5.19%. Energy prices rose faster 7.25% vs. 4.76% last month. Last month Banco de México raised rates for the 10th consecutive rate increase since June of 2021 to 8.50% and increased its forecasts for headline … Continue reading “Mexican Inflation Rate Soared to Highest Since 2000, Banco de México to Raise Rates Again”

Banco de México Raised Rates for 10th Straight Time to 8.50% as Inflation Hits 22 Year Highs

The Mexican Central Bank, Banco de México raised rates for the 10th consecutive rate increase since June of 2021 and second straight by 75 basis points to 8.50% matching the previous two interest-rate moves by the U.S. Federal Reserve. The bank again increasing its forecasts for headline and core inflation forecasts. The size of future rate increases will depend on prevailing conditions, the bank added. Banco de México’s Governing Board decided to raise the target for the overnight interbank interest … Continue reading “Banco de México Raised Rates for 10th Straight Time to 8.50% as Inflation Hits 22 Year Highs”

Banco de México Raises Rates Again with a Record 75 Basis Points to 7.75% to Tame Inflation

The Mexican Central Bank, Banco de México raised interest rates by 75 basis points to 7.75% with the bank saying headline and core inflation forecasts were revised upwards.  The bank said it would hike rates again and by as much necessary to tame inflation that has surged to double its target of 3%. Banco de México’s Governing Board decided to raise the target for the overnight interbank interest rate by 75 basis points to 7.75%, effective June 24, 2022. “For … Continue reading “Banco de México Raises Rates Again with a Record 75 Basis Points to 7.75% to Tame Inflation”

Banco de México Raises Rates Again with Inflation Risk to Mexican Economy

The Mexican Central Bank, Banco de México raised interest rates by 50 basis points to 7.00% with the bank saying headline and core inflation forecasts were revised upwards. One dissenter voted to hike by 75 bps. The Mexico central bank Governing Board increased the target for the overnight interbank interest rate by 50 basis points to 7.00%. The vote was not unanimous. Voting in favor of the decision were Victoria Rodríguez, Galia Borja, Gerardo Esquivel, and Jonathan Heath. Voting in … Continue reading “Banco de México Raises Rates Again with Inflation Risk to Mexican Economy”

Banco de México Raises Rates Again as Inflationary Pressures Greater and Lasted Longer Than Anticipated

The Mexican Central Bank, Banco de México raised interest rates by 50 basis points to 6.00% with the bank saying Inflationary pressures have been greater and have lasted longer than anticipated. Banco Central do Brasil​ again aggressively hiked its benchmark interest rate by 1.5% to 10.75% last week. The Mexico central bank Governing Board increased the target for the overnight interbank interest rate by 50 basis points to 6.00%. The vote was not unanimous, Voting in favor of the decision … Continue reading “Banco de México Raises Rates Again as Inflationary Pressures Greater and Lasted Longer Than Anticipated”

Banco de México Raises Rates Again As Inflation Risk Deteriorates More

The Mexican Central Bank, Banco de México raised interest rates by 50 basis points to 5.50% with the bank saying Balance of Risks for Inflation Have Deteriorated. Last month the Banco Central do Brasil​ hiked its benchmark interest rate by 1.5% to 9.25%. The Mexico central bank Governing Board increased the target for the overnight interbank interest rate by 50 basis points to 5.50%. The vote was not unanimous, voting in favor of the decision were Alejandro Díaz de León, … Continue reading “Banco de México Raises Rates Again As Inflation Risk Deteriorates More”

Banco de México Raises Rates Again With Inflation Risk To Mexican Economy

The Mexican Central Bank, Banco de México raised interest rates by 25 basis points to 5.00% with the bank saying headline and core inflation forecasts were revised upwards. Last month the Banco Central do Brasil​ hiked its benchmark interest rate by 150bp to 7.75% The Mexico central bank Governing Board increased the target for the overnight interbank interest rate by 25 basis points to 5.00%. The vote was not unanimous, voting in favor of the decision were Alejandro Díaz de … Continue reading “Banco de México Raises Rates Again With Inflation Risk To Mexican Economy”

Banco de México Raises Rates With Inflation Risk To Mexican Economy

The Mexican Central Bank, Banco de México raised interest rates by 25 basis points to 4.75% with the bank saying headline and core inflation forecasts were revised upwards. Last week the Banco Central do Brasil​ hiked its benchmark interest rate by 100bp to 6.25%