Banxico Lowers Rate by Half a Point, Opens Door to Smaller Cuts
Mexico's central bank cut its benchmark interest rate by half a percentage point and opened the door to a smaller reduction ahead as policymakers worry Latin America's second-largest economy will continue to suffer headwinds after barely avoiding recession earlier this year.
Banxico, as the bank is known, lowered its key lending rate to 8% on Thursday, as expected by 27 of 29 economists surveyed by Bloomberg. The two dissenters had forecast a 25-basis-point reduction. The split decision, with one board member voting for a pause, marks the bank's eighth consecutive move to lower borrowing costs in Mexico.
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Forbes
26 minutes ago
- Forbes
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