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Mexican rate cuts urged in central bank

Friday, November 29, 2019

wo Bank of Mexico board members pressed their arguments this month for faster interest-rate cuts as the economy stagnated and showed signs of further weakening.

The central bank lowered the overnight interest-rate target on Nov. 14 by a quarter percentage point to 7.5% in a 3-2 vote. Two members voted for a half-point reduction, as they also did at the September meeting, the Wall Street Journal reports.