Banco de Mexico Cuts Rates

Mexico’s central bank cut its benchmark lending rate 25 basis points to 9.5 percent after inflation fell. The reduction is a first step in reversing 12 interest-rate increases through March that slowed economic growth in Latin America’s largest economy. Mexico´s annual inflation rate through mid-August was 4.1 percent. The core inflation rate, which excludes costs of energy and fresh foods, fell to 3.35 percent.