LatinNews Daily - 11 July 2025

*Governors from Mexico’s central bank (Banxico) have signalled they may opt to make smaller cuts to Banxico’s benchmark interest rate in future meetings. In recently released minutes from Banxico’s monetary policy meeting from 26 June, when the board cut the interest rate by 50 basis points for the fourth consecutive time, leaving it at 8.0%, one governor suggested that a “more gradual approach” to the rate-cutting cycle should be adopted going forwards, while another said that “adjustments of lesser magnitude” should be considered due to the inflationary outlook. Annual headline inflation slowed in June, standing at 4.32%, down from 4.42% in May. However, it remains above Banxico’s target of 3.0%. Banxico expects inflation will converge to its target by the third quarter of 2026.

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