# Bank of Mexico raises interest rates to record 8.5 percent | Inflation News | Al Jazeera

> Banxico raised its benchmark rate by 75 basis points to a record 8.5 percent, its second straight 75-point increase, with a unanimous vote. The bank said future moves would depend on prevailing conditions, which analysts read as a slightly more dovish signal. Mexico is fighting its highest inflation in more than two decades.

- Date: 2022-08-11 · published 2022-08-11T12:00:00.000Z
- Category: macro · region Mexico · magnitude medium
- Page: https://feedsoft.ai/events/40255-bank-of-mexico-raises-interest-rates-to-record-8-5-percent-inflation-news-al
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

Higher Mexican rates support the peso and keep the rate gap with the US wide, which lowers dollar-priced feed costs in pesos. The move is a meaningful macro driver but is largely expected given the Fed's hikes.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- aljazeera.com: https://www.aljazeera.com/economy/2022/8/11/bank-of-mexico-hikes-interest-rates-to-record-8-5-percent

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.