The Financial Institution of Mexico (Banxico) cut rates by 25 basis points on August 7, as analysts had been expecting.
The monetary plan committee accepted the choice by four ballots to one. Jonathan Heath, a previous Banxico deputy governor, was the sole dissenter, suggesting that the rate must be held. Health had dissented in the same way at the bank’s previous conference in June, saying that core inflation was expensive and plan needs to remain restricted.
Headline rising cost of living in Mexico was 3 51 % year on year in
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