October 18, 2018 / 2:23 PM / in a month

Mexico cenbank minutes show hawkish board member concerned about core inflation

MEXICO CITY, Oct 18 (Reuters) - Hawkish Mexican central bank board member Manuel Ramos-Francia voted for 25 basis point rate hike at the Oct. 4 monetary policy meeting due to the “high degree of persistence” of core inflation, minutes of that meeting showed on Thursday.

The other four members of the Bank of Mexico’s board voted to keep the benchmark interest rate steady at 7.75 percent, a 9-1/2 year high, though the board cautioned it may need to raise rates again due to the threat of persistently high inflation. (Reporting by Michael O’Boyle and Anthony Esposito Editing by Christine Murray)

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