Banxico cuts rates on account of lower core inflation
Central bank makes ‘one-time’ 25bp cut, with 3–2 voting split on governing board
The governing council of the Bank of Mexico (Banxico) has cut rates by 25 basis points.
In a press release dated November 5, the board said it “judged that the disinflation process continues”, with annual core inflation having declined “marginally” from 3.79% to 3.78% between September and October. Headline inflation on the other hand, had increased from 3.42% to 3.62% over the same period.
The council made the decision in a 3–2 split vote, with the minority in favour of holding. The bank last
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