Mexico Central Bank keeps rates unchanged (as expected) at 7.75%

Rates remains at 7.75%

The Mexico central-bank kept the overnight rate unchanged at 7.75%. This was as expected:

• Will maintain prudent policy stance going forward
• Will monitor MXN. Fed differential, economic slack
• unanimous in decision
• it will adjust policy in timely and robust manner
• balance of risks to growth has downward bias
• balance of risks to inflation has upward bias

The USDMXN has moved higher (lower MXN) after the release.

See earlier post on USDMXN technicals here...