OTHER NEWS - Oct. 8, 1992
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From Times Staff and Wire Reports
Mexican Interest Rates Surge: Mexican interest rates reached a new 1992 high Wednesday as the benchmark 28-day Treasury Certificates hit a 19.5% annualized rate at the government’s weekly auction. Although many among Mexico’s business leaders are complaining that they are being strangled by interest rates that have risen 45% since late May, the government is pushing rates higher to help reduce inflation--now running about 15%. The government is also using high rates in an attempt to keep foreign investment in the country.
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