Mexico hints at cut on signs of slowdown

The Bank of Mexico kept rates on hold for the third straight month on Friday, but signalled it could soon cut.

The central bank's benchmark target for the overnight rate remains at 8.25%, a three-year high. But the institution's post-meeting statement was more dovish than in previous months, stressing the downside risks to growth.

"The strong recession already impacting industrialised countries, particularly the United States, is negatively impacting Mexican economic activity," the central ba