Bank of Mexico Cuts Interest Rate Amid Divided Opinions

The Bank of Mexico has announced a reduction in its benchmark interest rate by 25 basis points, lowering it to 7.50%. This decision, revealed on Thursday, showcases a strategic shift in monetary policy.

Interestingly, the central bank's five-member governing board was not unanimous in this decision. Deputy governor Jonathan Heath expressed a preference to keep the rate at 7.75%.

This move comes amidst differing economic outlooks and presents a challenge to align perspectives within the central bank.

(With inputs from agencies.)