Mexico's central bank board is worried global financial volatility could spur a deeper slump in the peso, and some of its members think it might need to hike interest rates before the U.S. Federal Reserve, according to the minutes of their last policy meeting.
Policymakers voted 5 to 0 to keep their benchmark rate at 3.75 percent at their May 5 meeting, according to the minutes released on Thursday.
The central bank had surprised markets with a 50 basis point hike in February.
According to the minutes of the last meeting, some board members thought Mexico may . . .