The Bank of Mexico (Banxico) raised the reference interest rate this Thursday about 25 base points, double what analysts expected, to place it at 11%, after the inflation data was published today in January, the which showed an upturn.
“In January, general inflation increased to settle at 7.91%. The subjacent component, which better reflects the inflation trend, stood at 8.45%, surprising on the rise. This is due to a slower decline than expected in inflation for food items and a rise in inflation for services,” the central bank said in its monetary policy decision published today.
In this way, Banxico’s governing board raised the interest rate to 11%, the highest in its history since the central bank became autonomous, at its first meeting in 2023.
Information in development.
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