MEXICO CITY, Nov 10 (Reuters) - The Bank of Mexico hiked its key interest rate by 75 basis points to a record 10.00% on Thursday, in line with forecasts and following in the footsteps of the U.S. Federal Reserve's recent three-quarters of a percentage point increase.
In a departure from recent decisions, the bank's five board members did not vote unanimously for the increase, with Deputy Governor Gerardo Esquivel voting to hike the key rate by 50 basis points.
The bank has raised its target rate by 600 basis points since June 2021, as inflation has blown past Banxico's target rate of 3%, plus or minus one percentage point.
Inflation in Mexico slowed in October, official data on Wednesday showed, reaching an annual headline rate of 8.41%, down from the 8.7% annual rate the prior month.
Reporting by Anthony Esposito and Brendan O'Boyle; Editing by Christian Plumb and Richard ChangOur Standards: The Thomson Reuters Trust Principles.