Bank of Mexico Interest Rate Hiked Again
September 30, 2022
The Bank of Mexico overnight interbank rate has been increased by 75 basis points to 9.25%. The size of the increase matches the prior move in June and brings the combined increase since June 2021 to 550 basis points. The Governing Board expresses continuing determination “to set a policy rate that is consistent at all times, with both the orderly and sustained convergence of headline inflation to the 3% target within the time frame in which monetary policy operates as well as with an adequate adjustment of the economy and financial markets.” CPI inflation rose from 8.2% in August to 8.7% in September.
Copyright 2022, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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