Latinnews Daily - 15 December 2017

* The central bank (Banxico) has increased its benchmark interest rate by 25 basis points to 7.25%. The move by Banxico mirrors that announced by the US Federal Reserve the previous day, which increased its benchmark interest rate by 25 basis points to 1.25%-1.5%. A Banxico statement said that its board had voted in favour of increasing the interest rate to “anchor medium- and long-term inflation expectations”. The statement adds that the Banxico board would continue to monitor economic indicators including the “relative monetary policy position in Mexico and the US” and take “corresponding actions” to ensure that inflation in Mexico, which is currently running at 6.63%, continues to trend down towards Banxico’s target rate of 3%.  

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