Central Banks
Banxico Sees Option to Decouple Rate Hikes From Fed, Deputy Governor Borja Says
- Mexico’s central bank board member Galia Borja speaks at event
- Bank took rate to record 10% with 75-basis-point hike Thursday
Galia Borja, deputy governor of Central Bank of Mexico, speaks during the Bloomberg Mexico Capital Markets Forum in Mexico City, Mexico, on Monday, Nov. 14, 2022.
Photographer: Alejandro Cegarra/BloombergThis article is for subscribers only.
Mexico’s central bank sees an option to break from its pattern of interest rate hikes in tandem with the US Federal Reserve if economic variables improve, Deputy Governor Galia Borja said Monday.
The Fed’s monetary policy is one of the elements that Banxico, as the central bank is known, takes into account when deciding its rate but whether they match one another’s pace “is conditional on the type of shocks that we face, it’s not mechanical,” Borja said at Bloomberg’s Mexico Capital Markets Forum.