Bank of Mexico cuts rates in emergency meeting
The Bank of Mexico reduced interest rates by 50 basis points in an emergency meeting on April 21, and unveiled a series of measures to boost liquidity.
The central bank’s governing board voted unanimously in favour of cutting the overnight interbank interest rate to 6%, in a bid to tackle the growing impact Covid-19 is having on the national economy.
Additionally, the board unveiled a liquidity provision programme for Mexico’s financial system of 750 billion pesos ($30.5 billion), 3.3% of GDP
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