US

Mexico raises interest rates a half point to 5.75 percent

Mexico's central bank says it's raising its interbank lending rate by one-half percent to 5.75 percent.

The announcement comes on the heels of the U.S. Federal Reserve's decision Thursday to raise its reference rate by 0.25 percent.

The Bank of Mexico cited uncertainty surrounding possible policy changes by the United States.

U.S. President-elect Donald J. Trump has pledged to re-negotiate the North American Free Trade Agreement with Mexico.

The Bank of Mexico has raised the rate three times in the last four months.

The Mexican peso has fallen 19 percent in value against the U.S. dollar in the last year, and closed at 20.38 to $1 on Thursday.