Bank of Mexico Cuts Rates, as Expected
November 14 2019 - 3:31PM
Dow Jones News
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)
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