LatinNews Daily - 12 November 2021

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 5.00%, following increases of the same amount in September, August and June. Banxico said in a report that the decision was taken in response to inflationary pressures, after Mexico registered annual inflation of 6.24% in October, well above Banxico’s 3% +/-1 inflation target range for 2021. The report forecasts that inflation will close this year at 6.8%, up from the 6.2% forecast in its September report.

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