Bank of Mexico says key rate must be maintained 'for some time'

The Bank of Mexico's governing board said it is necessary to keep its benchmark interest rate at its current level for "some time" in order to bring inflation down to target, minutes from its last monetary policy meeting showed on Thursday.

The Bank of Mexico, known as Banxico, unanimously held its key rate steady at 11.25% for a sixth straight time at its latest meeting in December.