Mexico's central bank raises interest rate to 4.75%

The Board of Governors of Mexico's central bank (Banxico) agreed to raise the interest rate by 50 points, bringing the interest rate up to 4.75%.

The central bank had already raised the interest rate twice this year, first from 3.25% to 3.75% in February, and then from 3.75% to 4.25% in June.

The meeting meetings and voting outcome of the Board of Governors meeting will be released to the public on October 13 in accordance with monetary policies.