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LatinNews Daily - 01 October 2021

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In brief: Mexico’s central bank raises benchmark interest rate

* Mexico’s central bank (Banxico) has raised its benchmark interest rate by 25 basis points to 4.75%, following increases of the same amount in August and June. Banxico said in a report that the decision was taken in response to inflationary pressures, after Mexico registered annual inflation of 5.87% in the first two weeks of September, well above Banxico’s 3% +/-1 inflation target range for 2021. The report forecasts that inflation will close this year at 6.2%, up from 5.7% forecast in its August report.