LatinNews Daily - 13 August 2021

In brief: Mexico’s central bank raises interest rates

* Mexico’s central bank (Banxico) has raised its benchmark interest rate by 25 basis points to 4.50%. Banxico said in a report that the decision was adopted after three members of Banxico’s board voted in favour of it, while two voted to maintain the interest rate at 4.25%. The Banxico report said that the decision was taken in response to inflationary pressures, after the country registered annual inflation of 5.81% in July, well above Banxico’s 3% +/-1 inflation target range for 2021. The report forecasts that inflation will close this year at 5.7%, up from the 4.8% forecast in its June report.

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