The Bank of Mexico cut rates again after its first monetary policy meeting of the year on February 11, in spite of rising inflation.
The five members of the executive board voted unanimously in favour of lowering the policy rate by 25 basis points to 4%. This is the first rate cut since September 2020.
In January, headline inflation rose year on year by 3.5%, up from 3.2% in December, above the Bank of Mexico’s target of 3%. The unanimous vote surprised most observers, because under similar
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