The governing board of Bank of Mexico (Banxico) followed the line of the Federal Reserve (Fed) of the United States and increased its interest rate by 75 base points, to leave it at a level of 7.75% in its last meeting of monetary politics.

The data does not surprise the market; however, after the inflation data for the first half of June was released hours before the decision was announced, some analysts suggested that a larger increase of 100 basis points was necessary.

The decision, according to the statement, was made unanimously considering the magnitude and diversity of shocks that have affected inflation.

According to data from the National Institute of Statistics and Geography (inegi), in the first half of June, consumer inflation accelerated to 7.88%, from the figure of 7.72% for the second half of May.

Inflation has caused central banks around the world to tighten their monetary policy, this in the midst of a second year of economic recovery where the Covid-19 pandemic It is not over.

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