By Ana Isabel Martinez
MEXICO CITY, Nov 12 (Reuters) – The Bank of Mexico’s recent interest rate cut sows confusion and sends the wrong message as the inflation outlook remains skewed to the upside and the US Federal Reserve seems primed to keep hiking its key rate, Deputy Governor Jonathan Heath said on Thursday.
Heath, whose eight-year term on the central bank’s board ends in December, voted last week to keep the benchmark rate unchanged. The five-member board at Banxico, as the bank is known, ultimately voted 3-2 to cut rates by 25 basis points to 6.25%.
(Reporting by Ana Isabel Martinez; Additional reporting by Noe Torres; Writing by Anthony Esposito; Editing by Iñigo Alexander)
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