Bank of Mexico Interest Rate Cut Again
November 15, 2019
The Governing Board of the Bank of Mexico voted 5-2 in favor of a third consecutive 25-basis point interest rate cut, which becomes 7.5%. The two dissenters wanted a 50-basis point reduction. The combined 75-basis point reduction remains small in comparison with 500 basis points of tightening during 2016-18. Officials released a statement that notes continuing “marked uncertainty,” cuts projected growth, and foresees inflation hovering around the 3% target.
Copyright 2019, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Bank of Mexico
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