Mexico Holds Rate Steady

As expected, Mexico’s central bank held its policy rate steady Friday at 4.5% and left little in the statement to change analysts’ forecasts. Nomura says Mexico will continue to keep its rate at 4.5% throughout the year. “Monetary policy in neutral gear and there are no signs of a tightening cycle in the horizon,” says Goldman. Meanwhile, UBS says Mexico may begin hiking rates as early as October.