Mexico cuts despite above-target inflation

The Bank of Mexico cited its growing concern about the extent of the slowdown in the national economy as the reasons for a deeper than anticipated cut in interest rates last Friday.

The cut, by 75 basis points, to 6%, brings the cumulative reduction since the start of the year to 225 basis points, suggesting the central bank remains committed to further monetary easing despite persistently high inflation.

Latest figures suggest annual inflation is running at around 6% or more than double the ta

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