Back

LatinNews Daily - 28 June 2022

In brief: Moody’s welcomes Mexico’s interest rate hikes

* International credit ratings agency Moody’s has said that the multiple interest rate hikes implemented by Mexico’s central bank (Banxico) are positive for credit purposes. Banxico announced its most recent hike, of 75 basis points, on 23 June. This brought the benchmark interest rate to 7.75% - up from 4% in May 2021 - and constituted the ninth consecutive rate hike. Moody’s stated that the increases had “boosted net interest margins for banks with large commercial portfolios” and would keep funding costs low.

End of preview - This article contains approximately 83 words.

Subscribers: Log in now to read the full article

Not a Subscriber?

Choose from one of the following options

LatinNews
Intelligence Research Ltd.
167-169 Great Portland Street,
5th floor,
London, W1W 5PF - UK
Phone : +44 (0) 203 695 2790
Contact
You may contact us via our online contact form
Copyright © 2022 Intelligence Research Ltd. All rights reserved.