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Bank of Mexico Raises Benchmark Rate More Than Expected
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MEXICO CITY—The Bank of Mexico raised its benchmark interest rate more than expected, and signaled that at least one more increase is likely as inflation takes longer to recede than it had foreseen.
The five-member board of governors voted unanimously Thursday to increase the overnight interest-rate target by a half percentage point to 11% in the bank’s 14th straight increase since mid-2021.
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