Mexico's central bank hikes interest rate by more than U.S. Fed

Mexico's central bank raised it benchmark interest rate on Thursday, outgunning the U.S. Federal Reserve in a bid to cool quickening inflation after Donald Trump's U.S. election win took the peso to record lows.

The Banco de Mexico hiked interest rates by 50 basis points to 5.75 percent, more than the median forecast by a Reuters poll of economists.