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AMLO Pre-Announces Banxico Rate Decision: 50bps Rate Rise to 6.50%

BANXICO
  • Wires cite Mexican President AMLO as stating that the Banxico have raised rate by 50bps to 6.50%.
  • Note that the decision announcement isn't until later today - but AMLO looks like he's pre-announcing the decision now. He is at a Mexican banking conference with the Banxico governor and other members of the board today, so he may well have been in contact with them.
  • The policy-setting meetings usually run into this morning, but they ended late yesterday to accommodate today's conference, so the decision has already been taken.
  • Full release from Banxico not due until 1900GMT / 1500ET, where we'll get inflation forecasts and full policy statement.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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