Mexico Interest Rate Unchanged in December


The monetary policy committee decided to keep the interest unchanged at 4.5% by unanimity of votes according to a release by the Bank of Mexico.

Despite above target inflation, the members of the committee decided to leave monetary policy unchanged in December of 2012. In a release published by the Bank of Mexico, the committee considers recent high inflation to be of temporary nature. As such, there is no reason to consider that Mexico is facing a long-term trend of above target inflation. However, the board announced it will remain vigilant and, if inflation does not converge to the 3% target, it is prepared to perform an upward adjustment to the reference interest rate.

 


Bank of Mexico | Nuno Fontes | nuno@tradingeconomics.com
12/14/2012 3:35:44 PM