March 30, 2017 / 7:12 PM / a year ago

Mexico cenbank hikes again, but slows pace after peso rally

MEXICO CITY, March 30 (Reuters) - Mexico’s central bank raised its benchmark interest rate for the fifth meeting in a row on Thursday, but policymakers slowed the pace of hikes on the back of a rally in the peso.

The board of the Banco de Mexico unanimously decided to raise its main rate by a quarter percentage point to 6.50 percent, as expected by 15 of 24 analysts surveyed by Reuters, the bank said in a statement.

The central bank had hiked in 50-basis point moves in its previous four meetings. (Reporting by Michael O’Boyle and Gabriel Stargardter)

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