The Bank of Mexico (Banxico) raised the reference interest rate by 75 basis points to a historical maximum level of 10.0 percent, in accordance with market expectations, and foresees more increases, but analysts anticipate that they would be of lesser magnitude, given the less restrictive tone of the institution's statement.
The majority of the members of the Governing Board voted for an adjustment of 75 points, with the exception of Deputy Governor Gerardo Esquivel, who voted in favor of an adjustment of 50 base points.
The monetary authority also adjusted its short-term . . .
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