Bank of Mexico Takes Bold Step in Interest Rate Reduction

The Bank of Mexico has cut its benchmark interest rate by 50 basis points to 8.00%. The unanimous decision reflects controlled inflation within the bank's target range and a potential for further reductions in future monetary policy meetings.

In a significant move, the Bank of Mexico reduced its benchmark interest rate by 50 basis points, setting it at 8.00% on Thursday. This decision aligns with the bank's assessment of inflation remaining within its target range.

The central bank indicated the possibility of continuing to slash rates by a similar margin at upcoming monetary policy meetings, reflecting confidence in the current economic climate.

The decision was reached unanimously by the governing board's five members, underscoring a unified stance on monetary easing to support the nation's economy.

(With inputs from agencies.)