MEXICO CITY—The Bank of Mexico’s cycle of interest rate hikes is not yet over and one or two more increases are likely amid concerns about inflation, though any monetary policy moves will depend on incoming data, Bank of Mexico Deputy Governor Jonathan Heath said.
Expressing concern about above-target inflation, Banxico, as the bank is known, raised its benchmark interest rate by 25 basis points to 4.75 percent on Thursday, as expected, in a four-to-one vote by its governing board. Heath voted with the majority for the rate hike.
