*Mexico’s central bank (Banxico) has lowered its benchmark interest rate by 25 basis points to 10.25%, in its third consecutive rates cut. In a statement, Banxico noted the inflation forecast for 2024 had improved while the closely watched core inflation rate, considered a good indicator for inflation trends, continued to fall in October. “Looking ahead, the board expects that the inflationary environment will allow further reference rate adjustments,” the statement said. Banxico started its rate cutting cycle in August, after having held rates steady at 11% since March.
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LatinNews Daily - 15 November 2024
In brief: Mexico’s Banxico continues to cut interest rates
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