Banco de Mexico Lowers Prime Interest Rate to 4.5 Percent
Posted on 08/15/2020
The Bank of Mexico (Banco de Mexico) lowered its prime interest rate by 50 basis points to 4.5%. The central bank commented that inflation rose to 3.62% in July 2020. Mexico is Latin America’s second-largest economy.
In the second quarter of 2020, Mexico’s economic activity plummeted 18.9%.