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

BY Reuters | ECONOMIC | 11:25 AM EDT

MEXICO CITY, May 21 (Reuters) - 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. (Reporting by Brendan O'Boyle; Editing by Emily Green)

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