By Juan Montes 

MEXICO CITY -- The Bank of Mexico cut interest rates by a quarter percentage-point Thursday, as expected, continuing an easing cycle that started in August when inflation eased towards the bank's target.

In its third consecutive cut, the Mexican central bank reduced the overnight interest-rate target to 7.5%, its lowest level since June of last year. The decision wasn't unanimous, with two of the five board members voting for a more aggressive half percentage-point cut.

The cuts mirror recent moves by the U.S. Federal Reserve. The monetary easing in the U.S. has given Mexico's central bank maneuvering room to lower borrowing costs without reducing the attractiveness of the peso and other peso-denominated assets.

(END) Dow Jones Newswires

November 14, 2019 15:16 ET (20:16 GMT)