Bank of Mexico rate meeting dominated by Middle East concerns, minutes show

Uncertainty ​around ‌the impacts of ​war in the Middle East ‌dominated the Bank of Mexico's May monetary policy decision, which ended ‌in a split 3-2 ‌vote to cut Mexico's benchmark interest rate, according to minutes from the ⁠meeting ​which ⁠were published Thursday morning.

The bank's five ⁠members all highlighted the ​upward risks to inflation related to ⁠the conflict, although most "argued that their ⁠direct ​impact on inflation in Mexico has been limited, partly ⁠due to the federal government’s ⁠fuel ⁠price policies," according to the minutes.