September 26, 2019 / 6:21 PM / a month ago

Mexico central bank cuts key interest rate by 25 basis points

MEXICO CITY, Sept 26 (Reuters) - For the second meeting in a row, the board of Mexico’s central bank voted to cut its key interest rate by 25 basis points to 7.75%, citing slowing inflation and widening slack in the economy, among other factors.

“Considering the reduction of headline inflation, the ample slack in the economy and the recent behavior of external and domestic yield curves, the Bank of Mexico’s governing board decided by majority to lower the target for the overnight interbank interest rate to 7.75%,” the bank said in a statement.

Two board members wanted to go even further, voting to cut the rate by 50 basis points to 7.50%. (Reporting by Mexico City newsroom; editing by Julia Love)

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