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2017.06.2300:50:00UTC+00Mexico Hikes Key Rate By 25 Bps

Mexico's central bank raised its key rate for the seventh straight meeting, on late Thursday.

Banco de Mexico lifted its interest rate by a quarter point to 7.00 percent. One member of the board voted to keep rates unchanged at 6.75 percent.

The level reached in the reference rate is congruent with the process of efficient convergence of inflation toward the 3 percent objective, the central bank said in a statement.

The risks to inflation were neutral given the current monetary policy stance, the bank said. Inflation is expected to peak in months ahead.

The policy rate is unlikely to rise any further from here, Capital Economics' Adam Collins said.

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