Mexico Boosts Rate for Fourth Straight Time as Prices Surge

Mexico’s central bank raised interest rates by a quarter point for its fourth consecutive meeting, sticking to a steady adjustment pace even as inflation accelerated faster than expected.

Policy makers, led by central bank Governor Alejandro Diaz de Leon, cast a split 4-1 vote to raise the key rate to 5% on Thursday, as forecast by 18 of 26 economists surveyed by Bloomberg. Eight analysts had expected that the five-person board would go for a bigger half-point increase.