October 2, 2017
Mexico’s central bank has kept the country’s benchmark interest rate at 7% for the second month in a row, reacting after inflation dropped to 6.53% this month from 6.66% in August.
The Central Bank, or Banxico, said inflation may have reached its current ceiling and was hopeful for lower inflationary tendencies in the near future. Banxico is targeting 3% inflation by the end of 2018.
Edward Glossop, an economist with Capital Economics, said in a report the lower inflation should enable Banxico
Banxico keeps benchmark interest level at 7% for the second month in a row