Banxico Holds Benchmark Rate At 7%

In line with the market’s expectations, Mexico’s central bank, Banco de México (Banxico), kept the benchmark interest rate unchanged 7%, Friday, holding it for the eighth month in a row. The uptick in annual inflation seen in September and October eased slightly in November, falling from 4.29% to 4.1%. Analysts believe Banxico will start to ease up on interest rates at the start of next year as growth slows and inflation falls back to the government’s target of under 4%.