The Bank of Mexico (Banxico) reduced its policy rate by 25 basis points on March 21. The cut, which is effective from today (March 22), means the key interest rate is now 11%. The monetary policy committee had held the rate at 11.25% at its previous seven meetings. 

In a statement announcing the decision, Banxico referred to the apparent strategy of monetary authorities across the world. Faced with similar circumstances, it said “the central banks of [most advanced] economies left their reference