Banxico cuts rates by 25bp in split decision
MPC says core inflation has been gradually falling, despite rise in headline figure
The Bank of Mexico (Banxico) on August 8 reduced its overnight interbank interest rate by 25 basis points to 10.75% in a 3–2 split decision.
Governor Victoria Rodríguez and two other monetary policy committee (MPC) members, Galia Borja and Omar Mejía, voted for the 25bp cut. Irene Espinosa and Jonathan Heath voted to hold.
The MPC said relatively slugglish growth in recent months had prolonged the weakness in the economy that had been observed since the end of 2023. However, it said that while
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