Mexico Central Bank leaves benchmark interest rate unchanged at 7.75%

In a widely expected decision, the central bank of Mexico announced that it left the benchmark interest rate unchanged at 7.75%. Below are some key quotes from the policy statement, as reported by Reuters.

• Balance of risk to growth has downward bias.
• Balance of risk to growth has decreased on the margin due to trade agreement.
• Board was not unanimous on rate decision.
• One board member voted for 25 bps increase.
• Balance of risks to inflation has upward bias.
• Board will maintain prudent policy stance.
• Will pay close attention to potential pass-through from peso, relative monetary policy stance with U.S. in an adverse external context as well as economic slack.