The News

Mexico’s Central Bank Raises Key Interest Rate

MEXICO CITY – Mexico’s Central Bank (Banxico) has raised a key interest rate by half a percentage point as it tries to bolster the peso and avoid inflation.

Banxico said in a statement on Thursday that it raised the interbank rate to 4.25 percent from 3.75 percent.

The Mexican peso has been sliding against the dollar in recent months. It fell further on the heels of uncertainty unleashed by Great Britain’s vote to leave the European Union.