Bank of Mexico Halts Rate Cuts, Holds Steady at 6.50%

The Bank of Mexico has decided to maintain its benchmark interest rate at 6.50%, marking a pause after a prolonged cycle of rate cuts. This decision came following the final rate reduction in May. The unanimous vote by the five-member board sets a new fiscal tone.

The Bank of Mexico announced on Thursday that it would maintain its benchmark interest rate at 6.50%. This decision marks the start of a much-anticipated pause following a series of rate cuts over more than two years.

After the last rate decrease in May, the Mexican central bank concluded its easing cycle, aimed at stimulating the economy.

The five-member board reached a consensus, unanimously voting to keep the rate steady, signaling a new phase in the country's monetary policy.