I saw this recently on Reuters – Bank of Mexico hikes rates to record 8.5%, moderates tone on future path: https://www.reuters.com/world/americas/bank-mexico-hikes-rate-record-high-85-inflation-bites-2022-08-11/. Longer article.
MEXICO CITY, Aug 11 (Reuters) – The Bank of Mexico hiked its benchmark interest rate by three-quarters of a percentage point to a record 8.5% on Thursday, mirroring the U.S. Federal Reserve’s most recent policy decision as inflation surged to an over two-decade high.
The five board members of Banxico, as the central bank is known, voted unanimously for the second 75 basis point hike in a row, saying the board would “assess the magnitude of the upward adjustments in the reference rate for its next policy decisions based on the prevailing conditions.”
Analysts said that language gave its forward guidance a slightly dovish bias, moderating the tone of its prior monetary policy statement on June 23 when it said the board intended to continue raising rates and would “evaluate taking the same forceful measures if conditions so require.”
This comes after slowing U.S. inflation may have opened the door for the Federal Reserve to temper the pace of its future hikes, though U.S. policymakers stressed they would continue to tighten monetary policy until price pressures were fully contained.