Mexico's central bank raised its benchmark interest rate on Thursday to a nearly 8-year high in a bid to curb rising inflation after a steep hike in gasoline prices and weakness in the peso sparked by Donald Trump's U.S. election win.
The Banco de Mexico hiked interest rates MXCBIR=ECI by 50 basis points to 6.25 percent, the highest level since March 2009 and in line with expectations in a Reuters poll.
The central bank said it raised rates to avoid consumer price contagion following a jump in gasoline prices and to anchor inflation expectations . . .