Bank of Mexico implements third rate cut of easing cycle
Divided board decides to lower key rate by 25bp to 7.5%; two board members voted for a 50bp cut
The governing board of the Bank of Mexico reduced the overnight interbank interest rate by 25bp to 7.5% after its policy meeting on November 14.
This is the third 25bp rate cut since August, when the central bank started the current easing cycle with the aim of boosting growth. “The latest information on the third quarter of 2019 shows that the stagnation economic activity has been exhibiting for several quarters continues, thus implying that slack conditions have widened more than anticipated
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