Mexico cuts interest rate to 10.75% in divided vote, but sees higher inflation

Published on: Thursday 08 August 2024

MEXICO CITY (Reuters) -Mexico's central bank lowered its benchmark interest rate in a divided vote to 10.75%, the monetary authority said on Thursday, cutting the key borrowing rate from 11.00% but also signaling that it expects prices to rise higher than previously expected. In its statement, the bank noted it expects inflationary pressures in Latin America's No. 2 economy to allow for further discussion of rate adjustments going forward. Banxico, as the central bank is known, upwardly revised its forecast for year-end headline inflation to 4.4%, from 4.0% previously, while maintaining its expectation for core inflation at 3.9%.

News source: https://finance.yahoo.com/news/mexicos-central-bank-cuts-benchmark-191632211.html

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Mexico cuts interest rate to 10.75% in divided vote, but sees higher inflation