Mexico Lowers Lending Rate To 7.75%

Mexico’s central bank has cut the benchmark lending rate by half a percentage point to 7.75%, the lowest level in almost a year and a half. Record core inflation figures of 3%, as at mid January, spurred the bank to cut the rate for the six consecutive month. Economists expect this to be the last big reduction to the benchmark rate by the central bank for the next few months due to inflationary concerns.