Bank of Mexico cuts rates again despite above-target inflation

The Bank of Mexico cut policy rates on September 24 in spite of above-target inflation, as policy-makers confront a weakening economy and a lack of fiscal support.

The central bank’s governing board unanimously decided to continue its easing cycle cutting rates by 25 basis points to 4.25% in their policy meeting.

The Bank of Mexico’s policy statement warns the central bank’s room for manoeuvre is “narrow”. It stresses “adopting the necessary actions regarding both monetary and fiscal policies

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