Bank of Mexico hikes rate to record high 8.5% as inflation bites
MEXICO CITY, Aug 11 (Reuters) - The Bank of Mexico hiked its benchmark interest rate by three-quarters of a percentage point to a record rate of 8.5% on Thursday, mirroring the U.S. Federal Reserve's most recent policy decision as inflation surged to an over two-decade high.
The five board members of Banxico, as the central bank is known, voted unanimously for the second 75 basis points rate hike in a row, saying they would "assess the magnitude of the upward adjustments in the reference rate for its next policy decisions based on the prevailing conditions." (Reporting by Anthony Esposito, Edited by Isabel Woodford)
