Mexico's Central Bank Cuts Interest Rate Amid Cooling Inflation

The Bank of Mexico reduced its benchmark interest rate by 25 basis points to 10.25% due to slowing core inflation. The decision was unanimously made by the central bank's five-member governing board, highlighting efforts to stimulate economic growth while keeping inflation in check.

In a significant move, the Bank of Mexico has decided to cut its benchmark interest rate by 25 basis points, bringing it down to 10.25%.

This adjustment follows a noticeable slowdown in core inflation within Latin America's second-largest economy, indicating a shift in monetary strategy.

The unanimous decision by the bank's governing board underscores a concerted effort to balance economic growth and inflation management.

(With inputs from agencies.)