Market News
Bank of Mexico, slowing pace of cuts, brings key rate to lowest in three years
Summary
- Banxico cuts rate to 7.75%, lowest since mid-2022
- Deputy Governor Heath dissents, votes to hold rate at 8.0>#/li###
- Inflation mixed; core index above target at 4.23>#/li###
MEXICO CITY, Aug 7 (Reuters) - The Bank of Mexico cut its benchmark interest rate by 25 basis points on Thursday in a divided vote, slowing its pace of monetary easing and bringing the rate to its lowest level in three years.
The decision by the bank's five-member governing board brings the rate to 7.75%, its lowest since mid-2022.
