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Bank of Mexico Deputy Governor Sees Risk of Overdoing Rate Increases

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MEXICO CITY—Bank of Mexico deputy governor Gerardo Esquivel said the central bank runs the risk of raising interest rates too far in its bid to contain inflation, according to the minutes from this month’s monetary policy meeting.The central bank’s five-member board voted 4-1 on Nov.

10 to lift the overnight interest-rate target from 9.25% to 10%, with Mr. Esquivel voting for a half-point increase to 9.75%.

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