Bank of Mexico Lowers Interest Rate

MEXICO CITY (Reuters) – The Bank of Mexico lowered its benchmark interest rate by 25 basis points to 10.00% on Thursday. The central bank indicated that larger rate cuts could be considered in future meetings due to progress on inflation in Latin America's second-largest economy.

The unanimous decision by the five-member governing board came after headline inflation decreased slightly more than expected last month.

The bank stated, "In view of the progress on disinflation, larger downward adjustments could be considered in some meetings, albeit maintaining a restrictive stance."