Bank of Mexico Raises Interest Rates in Split Decision

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The Bank of Mexico raised interest rates Thursday in a surprise decision after inflation came in higher than expected in the first half of June.

The board of governors voted 3-2 in favor of lifting the overnight interest-rate target by a quarter percentage point to 4.25%, the first increase since December 2018. Two of the five board members voted to keep the rate at 4%.

The…

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