Mexico central bank to take cue from Fed moves: minutes

7/6/2017 Reuters 

pesoThe majority of Mexico’s central bank board believes it is crucial to maintain the nation’s relative monetary policy stance with the United States now that the Federal Reserve has begun raising rates, according to minutes of the bank’s June 22 meeting released on Thursday.

“Most members said that given the recent interest rate increase by the Federal Reserve, it is indispensable right now to maintain the current relative position,” the statement said.

Nonetheless, most members also said there could be a pause in the bank’s rate hike cycle, considering that consumer price movements appear to be helping inflation reach the bank’s 3 percent target.

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