Banco de Mexico raises one-day interbank overnight funding rate 25 bps to 8.25%

By Richard Connell

New York, Aug 15 - Banco de Mexico said its board of governors raised its one-day interbank overnight funding rate by 25 basis points to 8.25%.

The board is hoping that lifting the overnight funding rate will act as an "anchor" to keep inflationary expectations at a medium level.

In making its decision, the governors noted the overall slowdown in the global economy, particularly in the United States, which has intensified in the middle of this year, as well as the difficulties experienced in the international financial system.

But they also warned of inflationary pressures, particularly in raw materials.

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