Mexico central bank makes record rate increase, flags more hikes

Mexico central bank makes record rate increase, flags more hikes

The Bank of Mexico on Thursday increased its benchmark interest rate by a record 75 basis points to 7.75%, saying it would hike rates again and by as much if necessary to tame inflation that has surged to double its target.

Mexico central bank makes record rate increase, flags more hikes

MEXICO CITY -- The Bank of Mexico on Thursday increased its benchmark interest rate by a record 75 basis points to 7.75%, saying more rate hikes would be forthcoming if necessary as the central bank seeks to tame galloping inflation. Read More

Mexico Central Bank Makes Record Rate Increase, Flags More Hikes

The Bank of Mexico on Thursday increased its benchmark interest rate by a record 75 basis points to 7.75%, saying it would hike rates again and by as much if necessary to tame inflation that has surged to double its target. Inflation in the year through mid-June hit 7.88%, data showed earlier in the day, well above the central bank's target of 3%, plus or minus one percentage point..