MEXICO CITY, Oct 14 (Reuters) – Minutes from the Bank of Mexico’s last monetary policy meeting showed on Thursday that its five board members believed global inflationary pressures and bottlenecks in production continue to affect headline and core inflation in Mexico.
The Bank of Mexico, known as Banxico, raised its benchmark interest rate by 25 basis points to 4.75% at its Sept. 30 meeting, as expected, in a four-to-one vote by its governing board, as the central bank expressed concern about above-target inflation.
According to the minutes, the majority of the bank’s board pointed out that expectations for headline and core inflation for this and next year again increased, while medium and long-term inflation expectations have remained more stable.
Headline consumer price inflation rose 6.0% in the year through September, while annual core inflation, which strips out some volatile food and energy prices, increased 4.92% over the same period.
That is far above Banxico’s headline inflation target rate of 3% plus or minus one percentage point.
“The majority of members pointed out that inflationary pressures are associated with shocks that are expected to be transitory. However, they noted the risk of a negative impact on the price formation process,” the minutes said.
The Yucatan Times Newsroom
more recommended stories
Scorpion venom molecules could fight bacteria and cancer cells: UNAM
One of the components of the.
While Ómicron threatens the world, AMLO summons the people to meet at Mexico City’s Zocalo
While Ómicron threatens the world, AMLO.
Yari, 35 years old, decided to end her life in front of her relatives in Mérida
The woman spent about seven hours.
Croatian Mili Poljicak is proclaimed champion of the 34th Yucatán Junior Tennis World Cup
Croatian tennis player Mili Poljicak was.
American arrested in Cancun after his partner was found dead in a hotel room
Cancun, Q.R. — An American man.
Tourism increases risk of contagion of COVID-19 of the new variant Omicron
Travelers arrive to Mexico from countries.
Pharmaceuticals Value Soars By Omicron; earned USD$ 51.44 billion
Speculation about whether they will have.
Mexico reports 1,500 new cases of Covid-19 and 38 deaths in the last 24 hours
The 10 states of the country.
López Obrador rules out new closures due to the Omicron Covid variant
The president assured that Mexico is.
WHO says Omicron poses a very high global risk, the world must prepare
GENEVA (Reuters) -The heavily mutated Omicron.