the Central Bank of Mexico cut its benchmark interest rate at the end of the fifth session in a row.
the Bank of Mexico on Thursday lowered its benchmark interest rate overnight by 25 basis points to 7%. The Central Bank’s decision coincided with the forecast.
“According to the latest data, gross domestic product, is expected in 2020 will grow by less than expected in the quarterly report of the Bank for the July-September 2019, while the balance of risks shifted downwards”, — stated in the message of the Central Bank.
it is Expected that total and core inflation will be “moderately higher” forecasts published in the latest quarterly report, said the regulator.
Mexico’s Economy in 2019 fell for the first time in ten years, as companies restrict investments because of fears over the economic policies of President Andres Manuel Lopez Obrador.
Annual inflation in January amounted to 3.24%, slightly above the target of the Central Bank at 3%.