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In a widely expected decision, the central bank of Mexico announced that it left the benchmark interest rate unchanged at 7.75%. Below are some key quotes from the policy statement, as reported by Reuters.

  • Balance of risk to growth has downward bias.
  • Balance of risk to growth has decreased on the margin due to trade agreement.
  • Board was not unanimous on rate decision.
  • One board member voted for 25 bps increase.
  • Balance of risks to inflation has upward bias.
  • Board will maintain prudent policy stance.
  • Will pay close attention to potential pass-through from peso, relative monetary policy  stance with U.S.  in an adverse external context as well as economic slack.