Mexico Raises Key Rate More Than Expected After Brexit Vote

06/30/16 Bloomberg

Mexican pesoMexico broke with the Federal Reserve and raised its key interest rate by a half-point after the peso tumbled to a record low following the U.K.’s vote to leave the European Union. The peso rallied, leading gains among major currencies.

Banco de Mexico increased the overnight rate a half-point to 4.25 percent Thursday, saying that the inflation outlook deteriorated and that a worsened global economic condition could impact prices.

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