The Bank of Mexico (Banxico) has cut its benchmark interest rate by a quarter point to 6.5% in a split decision, while announcing an end to an easing cycle that has lasted for more than two years. 

In a statement following the decision on May 7, the bank’s governing board said uncertainty from the Iran war remained “elevated”, despite having eased in recent weeks. “The impact of the Middle Eastern conflict on the global economy is uncertain and will depend on its duration and intensity,” the