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AMLO Preempts Banxico Rate Hike Announcement in Snub to Autonomy

  • Banxico confirmed it raised rates by 50 points to 6.5%
  • Mexico president revealed rate decision at press briefing
Andres Manuel Lopez Obrador

Andres Manuel Lopez Obrador

Photographer: Luis Antonio Rojas/Bloomberg
Updated on

Mexico’s central bank confirmed its latest interest-rate hike hours after President Andres Manuel Lopez Obrador announced the half-point increase, an unprecedented disclosure that raised questions about Banxico’s independence.

“Yesterday in Mexico, the central bank increased interest rates by 0.5 percentage point,” the president known as AMLO told reporters during his daily press conference early on Thursday. “We’ll have an interest rate of 6.5%.”