Economy & Business - October 2023

MEXICO | Central bank maintains interest rates again. On 28 September, Mexico’s central bank (Banxico) announced that it was maintaining its benchmark interest rate at 11.25% for the fourth consecutive occasion. This is in line with Banxico’s announcement in May that the rate would be held for a prolonged period in order to reduce inflation to the target of 3%. This comes after Mexico’s national statistics institute (Inegi) released figures for the consumer price index (INPC) for the first half of September, which show that annual inflation rate stood at 4.4%.