Banxico’s hawkish tilt as Amlo slips up

Yesterday’s unanimous vote by Mexico’s central bank to raise the policy rate by 50bp, to 6.50%, came as no surprise since it had already been revealed by President López Obrador (Amlo) earlier in the day. While we wouldn’t go as far as to say the central bank’s autonomy is under siege, the president’s comments are another worrying example of him chipping away at Mexico’s key institutions.

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