January 31, 2018 / 8:33 PM / 9 months ago

Mexico inflation risks require firm monetary policy: central bank

MEXICO CITY (Reuters) - Risks to Mexican inflation require timely and firm monetary policy action, the country’s central bank said on Wednesday, supporting expectations the bank could hike rates in February.

Bundles of Mexican Peso banknotes are pictured at a currency exchange shop in Ciudad Juarez, Mexico January 15, 2018. REUTERS/Jose Luis Gonzalez

In an annual report to Congress the Bank of Mexico said it expected inflation to moderate and gradually converge towards its 3 percent target during 2018.

Reporting by Anthony Esposito

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