Mexico’s central bank seen hiking interest rate to 4.50%: Reuters poll

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Economic systemAug 09, 2021 09: 42AM ET

Mexico's central bank seen hiking interest rate to 4.50%: Reuters poll
© Reuters. FILE PHOTO: The facade of the Bank of Mexico building is pictured in downtown in Mexico City, Mexico February 28, 2019. REUTERS/Daniel Becerril

MEXICO CITY (Reuters) – The Mexican central monetary institution is widely expected to raise its benchmark passion price at its next monetary policy meeting on Thursday, with inflation unruffled well above policymakers’ goal diploma, a Reuters poll showed on Monday.

Seventeen of 19 analysts surveyed mentioned they demand the Bank of Mexico to raise the stride by 25 basis aspects to 4.50%. One analyst expected the monetary institution to receive the stride by 50 basis aspects to 4.75%, while one other forecast it may perchance perchance most likely terminate unchanged.

Is named Banxico, the central monetary institution in June all without delay raised the stride by 25 basis aspects to 4.25%, asserting the lengthen was as soon as desired to handbook positive of adversarial results on inflation expectations.

Annual inflation in July slowed to the lowest in four months, at 5.81%, but unruffled overshot expectations to terminate above the monetary institution’s goal. Banxico objectives for a price of 3% with a one- percentage-level tolerance threshold above and beneath that.

Banorte mentioned in a document that one or two of Banxico’s board individuals could also vote to come by rates unchanged, but that a unanimous vote in favor of raising borrowing charges regarded more seemingly.

Banxico will submit its monetary policy assertion on Thursday at 1 p.m. (1800 GMT).

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