*Mexico’s central bank (Banxico) has lowered interest rates by 25 basis points to 11%, the first modification since 30 March 2023. The decision was approved by Banxico’s governing board by four-to-one, with a single member voting for no change. The Banxico statement attributed the decision to slowing inflation which came in at 4.40% in February in annual terms, down from an annual rate of 4.88% in January. Core inflation – which excludes items with highly volatile prices – stood at 4.64% in annual terms, down from 4.76% the previous month.
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