Mexico raises interest rates in bid to shore up peso after Trump elected
by Rupert Neate in New York and agencies from on (#22126)
Banco de Mi(C)xico raises key interest rates by 0.5% as it warns global economy has become 'more complex' after Donald Trump's election as US president
Mexico's central bank raised interest rates on Thursday in an attempt to shore up the country's currency, which has collapsed following Donald Trump's election as US president.
The Banco de Mi(C)xico raised its key interest rate by 0.5% to 5.25% as it warned that the global economy had become "more complex" as a "consequence of the electoral process carried out in the United States and its result". The increase in the rate from 4.75-5.25% takes it to its highest since 2009.
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