Bank of Mexico maintains 11.25% interest rate, will hold “for some time”

The Bank of Mexico kept its benchmark interest on hold at 11.25% on Thursday for a fifth consecutive monetary policy meeting, as expected, underscoring it would maintain the reference rate at its current level for "some time," marking a change from its previous language of maintaining it for an "extended period." The decision by the central bank's five-member board was unanimous. All analysts polled in a Reuters survey had expected Banxico, as the central bank is also known, to hold borrowing costs at the current all-time high of 11.25%.