Mexico Raises Key Rate More Than Expected After Brexit Vote

  • Peso fell briefly to record after U.K. referendum last week
  • Policy makers veer from Fed path for second time this year

Why Mexico Broke With Fed and Raised Rates After Brexit

Mexico raised its key interest rate after the peso plunged on the U.K.’s vote to leave the European Union, outweighing concerns revealed in the same central bank decision of a weaker domestic economy. The currency rallied.

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