February 8, 2018 / 7:19 PM / 10 months ago

Mexico central bank hikes interest rate to contain inflation worries

Mexico's Central Bank Governor Alejandro Diaz de Leon looks on during a conference at the Autonomous Technological Institute of Mexico (ITAM) in Mexico City, Mexico January 11, 2018. REUTERS/Daniel Becerril

MEXICO CITY (Reuters) - Mexico’s central bank raised interest rates on Thursday to a nine-year high, as expected, in order to contain worries that inflation may not cool as quickly as forecast.

Banco de Mexico’s governing board unanimously voted to hike the key rate MXCBIR=ECI by 25 basis points to 7.50 percent, as forecast by 17 of 20 analysts polled by Reuters last week.

Reporting by Michael O'Boyle; Editing by Lisa Shumaker

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