UPDATE 2-Mexico cenbank hikes rates on inflation, Trump concerns

jueves 29 de septiembre de 2016 15:47 GYT

(Recasts with Trump, inflation, adds analyst quote)

By Gabriel Stargardter and Dave Graham

MEXICO CITY, Sept 29 (Reuters) - Mexico's central bank raised its benchmark rate 50 basis points to 4.75 percent on Thursday, hoping to stem risks that a weak peso could fan inflation after a sell-off in the currency sparked by fears Donald Trump could win the White House.

The Banco de Mexico bumped up rates to their highest level since 2009, when the Mexican economy was mired in the global economic crisis. The hike was in line with the median forecast of a Reuters poll of analysts this week.

"With this action, the aim is to stem inflationary pressures and keep inflation expectations anchored," the bank said in a statement, adding that the latest increase did not herald the start of a monetary policy tightening cycle.

The rate rise followed a unanimous 50-basis-point hike in June to keep the ailing peso from pushing up consumer prices.

Mexico's peso has hit a series of record lows in recent months, and inflation rose faster than expected in early September with the annual core reading just above the central bank's 3 percent target for the first time since late 2014.

Concern over U.S. Republican presidential candidate Trump's improved poll standings has exacerbated the peso's woes.

"If Trump wins, the peso is going to keep depreciating, and they will have to raise rates higher still, and then what's the limit?" said Barclays' Mexico economist Marco Oviedo. "Another 100 basis points, or another 150?"   Continuación...