LatinNews Daily - 14 April 2023

In brief: Mexico’s central bank weighs up ending rate hike cycle

*Mexico’s central bank (Banxico) has released minutes of its latest monetary policy meeting, in which it had slowed its pace of interest rates hikes, increasing the rate by 25 basis points rather than 50 as in previous meetings. The minutes show board members considering whether to bring the rate hiking cycle to an end.  Board members state they will “closely monitor inflationary pressures” in order to determine a reference rate to allow the convergence of headline inflation to the 3% target, with one board members saying that the bank’s monetary policy should be expected to begin showing its results “more clearly” in the second half of this year and into 2024, when it should “reach its full effects”. The bank has hiked interest rates by 725 basis points since the current raising cycle began in June 2021.

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