Mexico cenbank holds rate, says inflation risks deteriorated

MEXICO CITY Fri Jan 31, 2014 10:11am EST

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MEXICO CITY Jan 31 (Reuters) - Mexico's central bank kept interest rates on hold at a record low on Friday, as policymakers sought to underpin a nascent recovery in Latin America's No. 2 economy despite a surge in inflation above its tolerance ceiling.

The Banco de Mexico maintained its benchmark interest rate at 3.50 percent, as expected by analysts polled by Reuters last week, after cutting rates in September and October to boost growth.

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