Bank of Mexico Cuts Rates by 50 Basis Points
Posted on 05/15/2020
The Central Bank of Mexico (Banxico) lowered its benchmark interest rate to the lowest in 3.5 years. Banxico could be making more rate cuts. The five-member governing board of Banxico unanimously voted to reduce the key rate by 50 basis points to 5.50% This is the lowest rate since November 2016. Mexico is Latin America’s second largest economy, benefiting tremendously from a younger demographic than Canada economically and being a Southern neighbor to the United States.