Banxico Uncommitted to More Half-Point Hikes, Governor Says

Mexico’s central bank isn’t committed to a pace of half-point increases to its benchmark interest rate after delivering a hike of that magnitude in December, according to outgoing Governor Alejandro Diaz de Leon.

The bank announced a bigger-than-expected increaseto borrowing costs last week, following four straight quarter-point hikes, in an effort to combat skyrocketing inflation. Diaz de Leon, who leaves office at year-end, said policy makers are navigating “uncharted territory” and shouldn’t constrain themselves before future decisions.