Banxico, as the central bank is known, voted to hold the key rate at 11.25% on Thursday, matching the forecasts of all 23 economists surveyed by Bloomberg
The five-member board of Banco de Mexico emphasized it will remain cautious before considering lowering rates from 11.25% given the inflationary outlook
The official exchange rate reached $350 per US dollar this Monday, up from $287 on Friday, while the monetary authority is attempting to get ahead of market volatility
With inflation below the government’s target and, Campos Neto is set to begin cutting interest rates tomorrow, one week after the US raised rates for the eleventh time in a row