Mexico’s central bank cuts benchmark interest rate to 10.75% in split vote Reuters

MEXICO CITY (Reuters) – Mexico’s central bank cut its benchmark interest rate to 10.75 percent, the monetary authority said on Thursday, in a split vote that cut the key interest rate from 11.00 percent.

Three members of the bank’s board voted to cut the rate by 25 basis points, while two others sought to keep it, according to a statement.

The bank mentioned in its decision that it expects inflationary pressures from the economy no. 2 of Latin America to allow further discussion of rate adjustments in the future.

The decision by Banxico, as the central bank is known, to cut rates was against a Reuters poll earlier this week in which a narrow majority of analysts polled had expected the bank to hold rates steady at 11 percent.