Mexico Raises Main Interest Rate to 4.5%

The Bank of Mexico announced on Thursday that it has decided to raise its key interest rate by 25 basis points to 4.5%.

The move, which only three of the five board members voted in favor, aims at combating increasing inflationary pressures.

Two other board members voted to maintain interest rates unchanged, as inflation slowed in July to 5.81%, but remained higher than expected and above the 3% target.